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Dec 31, 2024
Celldex Q4 2024 Earnings Report
Celldex reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Celldex Therapeutics reported a decrease in total revenues for Q4 2024 compared to Q4 2023, primarily due to a decrease in services performed under manufacturing and research and development agreements. The company experienced an increase in R&D and G&A expenses, leading to a higher net loss for the quarter.
Total revenues for Q4 2024 were $1.2 million, down from $4.1 million in Q4 2023.
Net loss for Q4 2024 was $47.1 million, or ($0.71) per share, compared to a net loss of $43.3 million, or ($0.83) per share, for Q4 2023.
Research and development expenses increased to $46.9 million in Q4 2024 from $30.4 million in Q4 2023.
Cash, cash equivalents, and marketable securities stood at $725.3 million as of December 31, 2024.
Revenue by Segment
Forward Guidance
Celldex believes its current cash, cash equivalents, and marketable securities are sufficient to fund planned operations through 2027.
Positive Outlook
- Sufficient cash position to fund operations through 2027.
- Enrollment ongoing in Phase 3 barzolvolimab CSU studies.
- Phase 3 program in CIndU under development.
- Phase 2 barzolvolimab EOE study fully accrued, with data expected in 2025.
- Initiation of Phase 1 study for CDX-622, a first bispecific for inflammatory diseases.
Challenges Ahead
- Uncertainties inherent in clinical testing and patient accrual for trials.
- Limited experience in bringing programs through Phase 3 clinical trials.
- Risks related to the availability, cost, delivery, and quality of clinical materials.
- Uncertainty of obtaining regulatory approvals.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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