Celldex Therapeutics (CLDX) Q2 2026 earnings summary

Executive summary

• Net loss for Q2 2026 was $73.5 million ($0.94/share), a 30% increase year-over-year, driven by higher R&D expenses for barzolvolimab clinical trials.

• Revenue for Q2 2026 was $22,000, down 97% from Q2 2025, due to lower contract and grant revenue.

• Cash, cash equivalents, and marketable securities totaled $717.6 million at June 30, 2026, up from $451.5 million at March 31, 2026, mainly due to a $323.8 million public offering, and are sufficient to fund operations through 2028.

• Advanced clinical pipeline with barzolvolimab in multiple Phase 3 studies for chronic urticaria and atopic dermatitis, and positive Phase 1 results for bispecific antibody CDX-622 targeting inflammatory diseases.

• Discontinuation of Phase 2 prurigo nodularis study after not meeting endpoints, but barzolvolimab showed favorable safety and systemic mast cell depletion.

Financial highlights

• Q2 2026 revenue: $22,000 (down from $730,000 in Q2 2025); no material revenue recognized in Q2 2026 or H1 2026.

• Q2 2026 operating expenses: $80.6 million (up 25% year-over-year); R&D expenses were $67.5 million in Q2 2026 and $140.5 million for H1 2026.

• G&A expenses rose to $13.1 million in Q2 2026 and $24.6 million for H1 2026, mainly due to commercial planning for barzolvolimab.

• Net loss per share: $(0.94) for Q2 2026 vs. $(0.85) in Q2 2025; six-month net loss: $152.2 million, up 38% year-over-year.

• April 2026 public offering raised $323.8 million in net proceeds.

Outlook and guidance

• Cash position expected to fund planned operations through 2028.

• Revenue anticipated to increase over the next twelve months due to expanded contract manufacturing and R&D services.

• Continued increase in R&D and G&A expenses expected as barzolvolimab advances and commercial planning ramps up.

• Topline Phase 3 data for barzolvolimab in CSU expected in September/October 2026; BLA filing planned for 2027 if positive.