Celldex Q2 net loss $0.77/sh; barzolvolimab Ph2 studies initiated; settles SRS litigation

Celldex Therapeutics, Inc.

2022-Q2 EPS reported -$1.26 revenue$337,000

Net loss $36M ($0.77/sh) vs $13.4M ($0.34/sh) in Q2 2021; revenue $0.2M down from $3.5M.
Cash $356.8M at June 30; management says sufficient through 2025.
Barzolvolimab interim CSU: mean UAS7 reduction 66.6% (1.5mg/kg) and 75.1% (3mg/kg); Phase 2 studies dosed.
Settled Kolltan contingent milestones reduced from $172.5M to $80M; $15M paid in July; $6.3M remeasurement gain.
Deprioritized CDX-1140 program; focusing on barzolvolimab and bispecific platform.

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