Celldex Therapeutics 2025 Q3 Earnings Misses Targets as Net Loss Widens 59.2%

Celldex Therapeutics (CLDX) reported its fiscal 2025 Q3 earnings on Nov 10th, 2025, with a total revenue of $0, a 100.0% decline from $3.19 million in the prior year. The company’s net loss widened to $67.04 million, or $1.01 per share, a 59.2% increase from $42.12 million in 2024 Q3. Despite missing Wall Street expectations, Celldex highlighted positive Phase 2 data for barzolvolimab and plans to initiate a Phase 3 trial in 2025.

Revenue

Celldex’s revenue plummeted to $0 in 2025 Q3, a 100.0% decline from $3.19 million in 2024 Q3. The drop was attributed to the expiration of manufacturing and research agreements with Rockefeller University.

Earnings/Net Income

The company’s losses deepened to $1.01 per share in 2025 Q3, a 57.8% wider loss compared to $0.64 per share in 2024 Q3. Net loss expanded to $67.04 million, a 59.2% increase from $42.12 million. The EPS of -$1.01 marked a 57.8% wider loss, underscoring continued unprofitability.

Post-Earnings Price Action Review

The strategy of buying Celldex shares post-earnings and holding for 30 days performed poorly over three years, averaging -14.8% returns with a 25.4% maximum drawdown. This highlights significant volatility and unprofitability for the strategy.

CEO Commentary

Anthony Marucci, Co-founder, President, and CEO, emphasized Celldex’s leadership in mast cell biology, noting positive Phase 2 data for barzolvolimab in chronic spontaneous urticaria (CSU), cold urticaria, and symptomatic dermographism. He stated, “This quarter, Celldex continued to demonstrate our leadership in the field of mast cell biology, presenting exciting data across our pipeline programs.”

Guidance

Celldex expects to fund operations through 2027 with $583.2 million in cash reserves. The company plans to initiate a global Phase 3 study for cold urticaria and symptomatic dermographism in December 2025 and anticipates multiple data readouts in 2026.

Additional News

1. C-Level Changes:

   Teri Lawver, former Chief Commercial Officer at Dexcom, joined Celldex as Chief Commercial Officer, succeeding Richard Wright, who is retiring after over a decade.

2. Conference Participation:

   Celldex will present at three investor conferences in late 2025, including Guggenheim Healthcare Innovation and Cowen Immunology & Inflammation Summit.

3. Pipeline Advances:

   Barzolvolimab showed sustained efficacy in Phase 2 trials for CSU, with 71% complete response at 52 weeks, and plans for a Phase 3 trial are underway. CDX-622’s Phase 1 results demonstrated favorable safety and pharmacokinetic profiles.

Key Clinical Milestones

Celldex’s barzolvolimab achieved 66% complete response in cold urticaria and 49% in symptomatic dermographism in Phase 2 trials. The company also reported no revenue in Q3 but maintained $583.2 million in cash, sufficient for operations through 2027.