HAMPTON, N.J., Nov. 07, 2023 (GLOBE NEWSWIRE) — Celldex Therapeutics, Inc. (Nasdaq: CLDX) today announced the pricing of an underwritten public offering of 7,425,000 shares of its common stock at a public offering price of $27.00 per share. In connection with the offering, Celldex has granted the underwriters a 30-day option to purchase up to an additional 1,113,750 shares of common stock at the public offering price, less underwriting discounts and commissions.
Jefferies, Leerink Partners, Guggenheim Securities and Cantor are acting as the joint book-running managers for the offering. LifeSci Capital and H.C. Wainwright & Co. are acting as co-lead managers for the offering.
The Company expects to receive gross proceeds from the offering, excluding the exercise of the underwriters’ option, if any, of approximately $200.5 million, excluding underwriting discounts and commissions and other offering-related expenses.
Celldex intends to use the net proceeds from the offering to continue clinical and preclinical development of its product candidates, including current and future development of barzolvolimab, growing its bispecific antibody platform and clinical candidates, funding ongoing efforts to develop additional clinical pipeline products and for general corporate purposes.
The offering is expected to close on or about November 10, 2023, subject to customary closing conditions.
About Celldex Therapeutics, Inc.
Celldex is a clinical stage biotechnology company leading the science at the intersection of mast cell biology and the development of transformative therapeutics for patients. Our pipeline includes antibody-based therapeutics which have the ability to engage the human immune system and/or directly affect critical pathways to improve the lives of patients with severe inflammatory, allergic and autoimmune and other devastating diseases.