Celldex Therapeutics Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Celldex Therapeutics filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial and operational status.</b>

AI Summary

Celldex Therapeutics, Inc. (CLDX) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Celldex Therapeutics, Inc. filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Celldex Therapeutics, Inc. was formerly known as AVANT IMMUNOTHERAPEUTICS INC and T CELL SCIENCES INC. The company is involved in the 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES' industry (SIC code 2835).

Why It Matters

For investors and stakeholders tracking Celldex Therapeutics, Inc., this filing contains several important signals. This filing provides investors and stakeholders with the latest financial performance and operational updates for Celldex Therapeutics, crucial for assessing the company's current health and future prospects. Understanding the details within this 10-Q is essential for making informed investment decisions regarding Celldex Therapeutics, especially given its industry and past corporate changes.

Risk Assessment

Risk Level: low — Celldex Therapeutics, Inc. shows low risk based on this filing. The risk is low as this is a standard quarterly filing (10-Q) providing routine financial information, not indicating any immediate or significant adverse events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Celldex Therapeutics' performance and outlook.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly period end date)
• 2024-05-06 — Filing Date (Date the report was filed)
• 1231 — Fiscal Year End (Annual fiscal year end)
• 000-15006 — SEC File Number (SEC filing identification number)

Key Players & Entities

• Celldex Therapeutics, Inc. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-06 (date) — Filed as of date
• AVANT IMMUNOTHERAPEUTICS INC (company) — Former company name
• T CELL SCIENCES INC (company) — Former company name
• 0000744218 (company) — Central Index Key
• 2835 (industry) — Standard Industrial Classification
• NJ (location) — State of incorporation and business address

FAQ

Industry Context

Celldex Therapeutics operates in the biotechnology sector, specifically focusing on in vitro and in vivo diagnostic substances. This industry is characterized by significant research and development, regulatory oversight, and potential for high growth.

Regulatory Implications

As a company in the biotechnology sector, Celldex Therapeutics is subject to regulations from bodies like the FDA concerning drug development, testing, and approval processes. Standard SEC reporting requirements for public companies also apply.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended March 31, 2024.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and outlook.
3. Check for any updates on clinical trials, product development, or strategic partnerships mentioned in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — End date for the financial reporting period covered by the 10-Q.
• 2024-05-06: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, providing updated financial and operational data compared to previous filings.

Filing Documents

• cldx-20240331x10q.htm (10-Q) — 1044KB
• cldx-20240331xex31d1.htm (EX-31.1) — 13KB
• cldx-20240331xex31d2.htm (EX-31.2) — 13KB
• cldx-20240331xex32d1.htm (EX-32.1) — 6KB
• 0001410578-24-000593.txt (&nbsp;) — 5105KB
• cldx-20240331.xsd (EX-101.SCH) — 31KB
• cldx-20240331_cal.xml (EX-101.CAL) — 39KB
• cldx-20240331_def.xml (EX-101.DEF) — 134KB
• cldx-20240331_lab.xml (EX-101.LAB) — 322KB
• cldx-20240331_pre.xml (EX-101.PRE) — 231KB
• cldx-20240331x10q_htm.xml (XML) — 952KB

— Financial Information

Part I — Financial Information

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 3 Condensed Consolidated Balance Sheets at March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 5 Notes to Unaudited Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

— Other Information

Part II — Other Information 29

Risk Factors

Item 1A. Risk Factors 29

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 30 Exhibit Index 30

Signatures

Signatures 31 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Unaudited Financial Statements

Item 1. Unaudited Financial Statements CELLDEX THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share and per share amounts) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 115,077 $ 34,814 Marketable securities 708,769 388,784 Accounts and other receivables 2,671 2,628 Prepaid and other current assets 8,807 5,467 Total current assets 835,324 431,693 Property and equipment, net 4,061 4,060 Operating lease right-of-use assets, net 2,165 2,577 Intangible assets 27,190 27,190 Other assets 107 107 Total assets $ 868,847 $ 465,627 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,234 $ 3,494 Accrued expenses 17,536 22,029 Current portion of operating lease liabilities 1,644 1,614 Current portion of other long-term liabilities 3,877 3,988 Total current liabilities 26,291 31,125 Long-term portion of operating lease liabilities 470 928 Other long-term liabilities 3,473 4,403 Total liabilities 30,234 36,456 Commitments and contingent liabilities Stockholders' equity: Convertible preferred stock, $ .01 par value; 3,000,000 shares authorized; no shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ .001 par value; 297,000,000 shares authorized; 65,910,548 and 55,883,377 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 66 56 Additional paid-in capital 2,266,472 1,823,168 Accumulated other comprehensive income 2,244 3,308 Accumulated deficit ( 1,430,169 ) ( 1,397,361 ) Total stockholders' equity 838,613 429,171 Total liabilities and stockholders' equity $ 868,847 $ 465,627 See accompanying notes to unaudited condensed consolidated financial statements 3 Table of Contents CELLDEX THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OP

View Full Filing

View this 10-Q filing on SEC EDGAR