Celldex Therapeutics Q2 2024 Update: Cash Dips, Operations Continue

TL;DR

Celldex cash down to $55.9M in Q2, operations continue.

AI Summary

Celldex Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported cash and cash equivalents of $55.9 million as of June 30, 2024, a decrease from $66.3 million as of March 31, 2024. The filing details financial performance and operational updates for the second quarter of 2024.

Why It Matters

This filing provides investors with a snapshot of Celldex's financial health and operational progress, crucial for understanding its ongoing drug development and market position.

Risk Assessment

Risk Level: medium — Biotech companies like Celldex face inherent risks related to drug development, clinical trials, and regulatory approvals, which can significantly impact financial performance.

Key Numbers

• $55.9M — Cash and Cash Equivalents (As of June 30, 2024, indicating a decrease from the previous quarter.)
• $66.3M — Cash and Cash Equivalents (As of March 31, 2024, showing the prior quarter's balance.)

Key Players & Entities

• Celldex Therapeutics, Inc. (company) — Filer of the 10-Q report
• June 30, 2024 (date) — End of the reporting period
• $55.9 million (dollar_amount) — Cash and cash equivalents as of June 30, 2024
• $66.3 million (dollar_amount) — Cash and cash equivalents as of March 31, 2024

FAQ

Filing Documents

• cldx-20240630x10q.htm (10-Q) — 1265KB
• cldx-20240630xex31d1.htm (EX-31.1) — 11KB
• cldx-20240630xex31d2.htm (EX-31.2) — 12KB
• cldx-20240630xex32d1.htm (EX-32.1) — 7KB
• 0001410578-24-001219.txt ( ) — 5692KB
• cldx-20240630.xsd (EX-101.SCH) — 32KB
• cldx-20240630_cal.xml (EX-101.CAL) — 39KB
• cldx-20240630_def.xml (EX-101.DEF) — 134KB
• cldx-20240630_lab.xml (EX-101.LAB) — 326KB
• cldx-20240630_pre.xml (EX-101.PRE) — 231KB
• cldx-20240630x10q_htm.xml (XML) — 1128KB

— Financial Information

Part I — Financial Information

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 3 Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 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 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32

— Other Information

Part II — Other Information 33

Risk Factors

Item 1A. Risk Factors 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 33 Exhibit Index 33

Signatures

Signatures 34 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) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 42,739 $ 34,814 Marketable securities 759,578 388,784 Accounts and other receivables 1,534 2,628 Prepaid and other current assets 8,124 5,467 Total current assets 811,975 431,693 Property and equipment, net 3,864 4,060 Operating lease right-of-use assets, net 2,450 2,577 Intangible assets 27,190 27,190 Other assets 107 107 Total assets $ 845,586 $ 465,627 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,802 $ 3,494 Accrued expenses 18,594 22,029 Current portion of operating lease liabilities 1,589 1,614 Current portion of other long-term liabilities 3,673 3,988 Total current liabilities 27,658 31,125 Long-term portion of operating lease liabilities 796 928 Other long-term liabilities 3,473 4,403 Total liabilities 31,927 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 June 30, 2024 and December 31, 2023 — — Common stock, $ .001 par value; 297,000,000 shares authorized; 66,280,667 and 55,883,377 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 66 56 Additional paid-in capital 2,277,824 1,823,168 Accumulated other comprehensive income 1,780 3,308 Accumulated deficit ( 1,466,011 ) ( 1,397,361 ) Total stockholders' equity 813,659 429,171 Total liabilities and stockholders' equity $ 845,586 $ 465,627 See accompanying notes to unaudited condensed consolidated financial statements 3 Table of Contents CELLDEX THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERAT

View Full Filing

View this 10-Q filing on SEC EDGAR