Celldex posts narrower-than-expected net loss

By Reuters News


Overview

  • US biotech firm's Q3 net loss and loss per share both beat analyst expectations

  • No material revenue recognized in Q3, down from prior-year period

  • R&D and G&A expenses rose due to barzolvolimab trial and commercialization costs


Outlook

  • Celldex anticipates BLA submission for barzolvolimab in CSU in 2027

  • Company expects to update on Phase 3 cold urticaria and symptomatic dermographism programs in 2027

  • Celldex believes cash on hand will fund planned operations through 2028


Result Drivers

  • BARZOLVOLIMAB TRIAL COSTS - Co said increased R&D expenses were driven by higher clinical trial and manufacturing costs for barzolvolimab

  • COMMERCIAL PLANNING EXPENSES - Co said higher G&A expenses were due to increased commercial planning and hiring for barzolvolimab

  • NO MATERIAL REVENUE - Co attributed revenue decline to reduced services under manufacturing and R&D agreements with Rockefeller University


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

Beat

$0.96

$1.02 (13 Analysts)

Q3 Net Loss

Beat

$75.56 mln

$81.01 mln (9 Analysts)

Q3 Operating Expenses

$82.25 mln

Q3 Operating Income

-$82.25 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Celldex Therapeutics, Inc. is $64.00, about 113.8% above its November 4 closing price of $29.93


Reuters Recommended Reads

  • Nov 5 - Entrada Therapeutics Q3 net loss narrows as expenses fall

  • Nov 5 - Pyxis Oncology Q3 net loss narrows as expenses fall

  • Nov 4 - Relay Therapeutics Q3 loss smaller than estimates; sees breast cancer trial enrollment complete mid-2027


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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