HAMPTON, N.J. - Celldex (NASDAQ:CLDX) Therapeutics, Inc. (NASDAQ: CLDX), a clinical stage biotechnology firm, announced today its intention to offer $250 million of its common stock in an underwritten public offering. The company also plans to provide underwriters with a 30-day option to purchase up to an additional $37.5 million of common stock.
The offering's final terms will depend on market conditions at the time of pricing, and there is no guarantee of the offering's completion, size, or terms. Celldex aims to use the net proceeds to advance the clinical and preclinical development of its product candidates, including barzolvolimab and its bispecific antibody platform, as well as to develop additional clinical pipeline products and for general corporate purposes.
Leerink Partners and TD Cowen are serving as joint bookrunning managers for the proposed offering. The shares will be offered pursuant to a shelf registration statement that became automatically effective on November 3, 2023. A preliminary prospectus supplement related to the offering will be filed with the Securities and Exchange Commission (SEC).
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities, and there will be no sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.
Celldex Therapeutics focuses on developing therapies for patients with severe inflammatory, allergic, autoimmune, and other devastating diseases by leveraging its expertise in mast cell biology.
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