Celldex Therapeutics Reports $73.5 Million Net Loss in Q2 2026

Celldex Therapeutics, Inc. reported its financial results for the second quarter of 2026, revealing a net loss of $73.5 million, a 30% increase from the $56.6 million loss recorded in the same period last year. For the six months ending June 30, 2026, the company incurred a net loss of $152.2 million, compared to a loss of $110.4 million in the prior year. Total revenues for the second quarter were $22.7 million, a significant decrease of 97% from $37,000 in the same quarter of 2025, primarily due to a drop in contract and grant revenue from agreements with Rockefeller University.

Operating expenses for the second quarter rose to $80.6 million, up 25% from $64.6 million in the previous year, driven largely by increased research and development costs associated with the ongoing development of barzolvolimab, a monoclonal antibody targeting mast cell-mediated diseases. Research and development expenses alone reached $67.5 million, a 25% increase from $54.2 million in the prior year. The company also reported a rise in general and administrative expenses, which totaled $13.1 million, up 26% from $10.4 million in the same quarter of 2025.

In terms of operational developments, Celldex has made significant strides in its clinical programs, particularly with barzolvolimab, which is currently in Phase 3 trials for chronic spontaneous urticaria (CSU). The company completed enrollment of 1,939 patients in these trials, marking it as the largest program conducted for antihistamine-refractory CSU. Topline data from these studies is expected in September or October 2026. Additionally, the company has expanded its leased space in Hampton, New Jersey, to support its growing operations.

Celldex's financial position remains strong, with cash, cash equivalents, and marketable securities totaling $717.6 million as of June 30, 2026. This represents a significant increase from $582.9 million at the end of 2025. The company believes its current liquidity will be sufficient to fund operations through at least 2028, although it may seek additional capital through various means, including licensing agreements or public offerings, to support its long-term liquidity needs. The company has indicated that it may need to raise additional funds to continue its development programs, particularly if it opts to make milestone payments related to its acquisition of Kolltan Pharmaceuticals.