Traders should monitor the final pricing and size of the offering, which will impact the degree of dilution. The stock may experience downward pressure due to the new supply of shares and the lock-up expiration in 60 days. The success of the offering will provide insight into market sentiment for Celldex's clinical programs, particularly the upcoming Phase 3 data for barzolvolimab in CSU expected in Q4 2026.
Price Chart
Executive Summary
Celldex Therapeutics is conducting a follow-on public offering of common stock to raise capital. The proceeds will fund commercial readiness for barzolvolimab, clinical development of its pipeline, and general corporate purposes. The offering represents dilution to existing shareholders and is being conducted at a time when the company has no commercial revenue and relies on capital markets for funding.
Key Facts
- Celldex Therapeutics (CLDX) is conducting a follow-on public offering of common stock.
- The offering is priced at $31.72 per share, the last reported sale price on March 31, 2026.
- Net proceeds, estimated at approximately $ million (before expenses), will be used for commercial readiness of barzolvolimab, clinical development, and general corporate purposes.
- The company has granted underwriters a 30-day option to purchase up to an additional 15% of shares.
- Existing shareholders and management are subject to a 60-day lock-up agreement.
- The company has no commercial revenue and has a history of operating losses.
- Net tangible book value per share as of December 31, 2025, was $7.51, resulting in immediate dilution for new investors.
Financial Impact
The offering will raise capital for the company, with net proceeds estimated at approximately $ million. The exact offering size is not disclosed in the document.
Risk Factors
- The offering will dilute existing shareholders' equity.
- The company has no commercial revenue and a history of operating losses, making it dependent on future capital raises.
- The stock price may decline due to the increased supply of shares and potential for insider selling after the 60-day lock-up period expires.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001104659-26-038501 |
| Document: 0001104659-26-038501-index-headers.html | 0001104659-26-038501 |
| Document: 0001104659-26-038501-index.html | 0001104659-26-038501 |
| Document: 0001104659-26-038501.txt | 0001104659-26-038501 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 14, 2026 15w ago | Press Release | $32.12 $38.53 | ▼ −19.96% | ▼ −20.71% | $31.35 (+2.40%) |
Jun 14, 2026 15w ago | Press Release | $32.12 $38.53 | ▲ +19.96% | ▲ +20.71% | $31.35 (−2.40%) |
Jun 11, 2026 16w ago | Institutional Cluster | $29.96 $38.98 | ▲ +30.11% | ▲ +28.22% | $31.35 (+4.64%) |
Jun 10, 2026 16w ago | Press Release | $29.96 $38.98 | ▲ +30.11% | ▲ +28.22% | $31.35 (+4.64%) |
May 7, 2026 21w ago | 8-K | $33.97 $28.62 | ▼ −15.75% | ▼ −15.77% | $31.35 (−7.72%) |
May 7, 2026 21w ago | Press Release | $33.97 $28.62 | ▼ −15.75% | ▼ −15.77% | $31.35 (−7.72%) |
Apr 6, 2026 25w ago | Press Release | $31.37 $32.77 | ▲ +4.46% | ▼ −4.52% | $31.35 (−0.07%) |
Apr 2, 2026 26w ago | Press Release | $31.06 $32.88 | ▲ +5.86% | ▼ −4.02% | $31.35 (+0.93%) |
Apr 1, 2026 26w ago | 424B5 | $31.06 $32.88 | ▲ +5.86% | ▼ −4.02% | $31.35 (+0.93%) |
Apr 1, 2026 26w ago | Press Release | $31.06 $32.88 | ▲ +5.86% | ▼ −4.02% | $31.35 (+0.93%) |
US Market Status
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