Celldex Q2 Loss Beats Estimates; Key Phase 3 Data Due by October
CLDX has more than doubled off its 52-week low of $19.723.
Summary
Celldex posted a narrower-than-expected Q2 loss of $0.94 per share, beating the $1.06 consensus, driven by higher R&D and G&A spending on barzolvolimab. The company discontinued its Phase 2 prurigo nodularis study after failing to meet endpoints, but the focus remains on the upcoming Phase 3 CSU readout in September/October 2026, which could be a major catalyst. Cash runway extends through 2028, providing ample funding for the pivotal trial and commercial preparations. This follows positive Phase 1 and Phase 2 data presented in June, reinforcing the barzolvolimab thesis ahead of the binary event.
At the time of this announcement, CLDX was trading at $41.37 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $19.72 to $41.74. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.