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Celldex Therapeutics, Inc. (NASDAQ:CLDX) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 11.37%.
Celldex Therapeutics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.27 in the quarter versus EPS of $-0.29 in the year-earlier quarter.
Revenue: Rose 48.15% to $3.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Celldex Therapeutics, Inc. reported adjusted EPS loss of $0.27 per share. By that measure, the company missed the mean analyst estimate of $-0.25. It beat the average revenue estimate of $2.45 million.
Quoting Management: “Celldex ended 2012 reporting positive data from four clinical programs at major medical meetings, including final results from our Phase 2b study of CDX-011 in metastatic breast cancer,” said Anthony Marucci, Chief Executive Officer of Celldex Therapeutics. “Based on the CDX-011 final data package and subsequent discussions with the FDA, we look forward to initiating a randomized trial suitable for accelerated approval in patients with triple negative breast cancer that also over-express GPNMB in the second half of 2013.”
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