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Celldex Therapeutics

CLDX Lead: Phase 3 5 Biotech Distilled articles ↓ 25 filings & releases ↓ Cash $27.0M (Sep 30, 2026) ↓ 5 verdicts ↓ 6 timing quotes ↓
DermatologyImmunologyRespiratory Protein

Market cap $2.35B 78.5M shares (10-Q, Oct 28, 2026) × $29.87 close Nov 6, 2026

Most recent annual filing: 2026-02-15

Catalyst timeline

3 trackedQuarter catalyst calendar →
  1. Barzolvolimab commercial manufacturing update2026Barzolvolimab commercial manufacturing update, 2026, routine
  2. Barzolvolimab Atopic Dermatitis Ph2 toplinelate 2026Barzolvolimab Atopic Dermatitis Ph2 topline, late 2026, major
  3. Barzolvolimab CSU BLA filing2027Barzolvolimab CSU BLA filing, 2027, notable

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (9 active programs)

Technology platforms

Bispecific Antibody Platform

Next generation bispecific antibody platform supporting pipeline expansion with additional candidates for inflammatory diseases. Targets selected based on new science and compatibility with existing antibody programs in bispecific formats. Focus on emerging pathways controlling inflammatory diseases.

Next Generation Bispecific Antibody Platform

Bispecific antibody platform supporting pipeline expansion with additional candidates for inflammatory diseases. Targets selected based on new science and compatibility with existing antibody programs including KIT/SCF anchor mechanism for mast cell depletion combined with complementary inflammatory pathway targets.

Targets: SCF, KIT

Discontinued (2)

Capital (as filed)

Cash
$27.0M cash and cash equivalents · Sep 30, 2026 (10-Q)
Short-term investments
$623M Sep 30, 2026
Operating cash flow
−$65.0M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$718M cash, runway 2028 per the update of Sep 22, 2026 — the company's own words as read there, not the filed figure

Offering documents (1)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (5)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (5 calls)

Every verdict Biotech Distilled has published on Celldex Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-04-16 Buy core Celldex Therapeutics (CLDX) - Scientific Deep Dive for Barzolvolimab and Pipeline Products Pristine Phase 2 data, fortress balance sheet, and a validated upstream mast-cell-depleting mechanism position CLDX as a premier standalone or M&A target ahead of the binary Q4 EMBARQ Phase 3 readout.
  2. 2026-06-15 Buy core UPDATE: Celldex Therapeutics (CLDX) - The Bear Case Just Lost a Tooth CDX-622 first-in-human data shows mast cell depletion without KIT on-target toxicities, taking a tooth out of the bear case, while 76-week angioedema durability reinforces the disease-modification framing ahead of the Q4 binary.
  3. 2026-07-21 Buy core UPDATE: Celldex Therapeutics (CLDX) - The PN Program Just Got Killed PN miss is a disease-selection failure, not a mechanism failure; the CSU thesis is unchanged, EMBARQ topline pulled forward to Sept/Oct 2026, and the cash position remains fortress-like with no dilution gap.
  4. 2026-08-07 Buy core UPDATE: Celldex Therapeutics (CLDX) - Countdown to the Coin Flip Q2 cash of $717.6M with runway guided through 2028 hardens the fortress balance sheet, EMBARQ topline reaffirmed for Sept/Oct 2026, and CDX-622 expansion into allergic rhinitis and food allergy partially restores cross-indication optionality lost with the PN kill.
  5. 2026-09-23 Buy core UPDATE: Celldex Therapeutics (CLDX) - The Coin Landed Heads and the Stock Fell Anyway Both Phase 3 EMBARQ trials met primary and all key secondary endpoints at p<0.00001 with replicated effect sizes; clinical efficacy risk is largely retired and the -19% drawdown looks like event-premium unwind rather than an asset re-rating, though the full safety database remains the last real gate.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (6 quotes from 3 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (25)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 7, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

12 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)