Celldex Therapeutics Earnings: Here’s Why Investors are Happy Now
Celldex Therapeutics, Inc. (NASDAQ:CLDX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.85%.
Celldex Therapeutics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.23 in the quarter versus EPS of $-0.27 in the year-earlier quarter.
Revenue: Decreased 0.82% to $2.41 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Celldex Therapeutics, Inc. reported adjusted EPS loss of $0.23 per share. By that measure, the company missed the mean analyst estimate of $-0.22. It missed the average revenue estimate of $2.42 million.
Quoting Management: “This year will be significant for Celldex as we continue to advance multiple clinical programs, including registration studies in both brain and breast cancer,” said Anthony S. Marucci, President and Chief Executive Officer of Celldex Therapeutics. “We are well on track to initiate the accelerated approval study of CDX-011 in triple negative breast cancers that over-express GPNMB later this year and remain pleased with the pace of enrollment in both our Phase 3 study in frontline glioblastoma and our Phase 2 study in refractory glioblastoma. In addition, by year-end we expect data from three clinical studies—our Phase 2 study of rindopepimut in refractory glioblastoma, our pilot study of CDX-1135 in dense deposit disease and our ongoing Phase 1 study of CDX-1127 in both solid tumors and hematologic malignancies. Importantly, these programs and others in our pipeline are well-financed given the successful completion of our $114.1 million capital raise in the first quarter.”
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