HAMPTON - Celldex Therapeutics, Inc. ('Celldex' or the 'Company') (Nasdaq: CLDX) today announced the closing of its previously announced underwritten public offering of 9,798,000 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase an additional 1,278,000 shares of common stock at a public offering price of $47.00 per share.

All of the shares sold in the offering were sold by Celldex. The gross proceeds to Celldex from this offering were approximately $460.5 million, excluding underwriting discounts and commissions and other offering-related expenses.

Leerink Partners, TD Cowen, Guggenheim Securities and Cantor acted as the joint bookrunning managers for the offering. LifeSci Capital and H.C. Wainwright & Co. acted as co-lead managers for the offering.

The securities described above were offered and sold by Celldex pursuant to a prospectus supplement and an accompanying base prospectus forming part of a shelf registration statement on Form S-3 (File No. 333-275300), which was previously filed with the Securities and Exchange Commission ('SEC') and became automatically effective on November 3, 2023, and are available on the SEC's website located at http://www.sec.gov (opens in a new tab).

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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, autoimmune and other devastating diseases.

Forward Looking Statement

This release contains 'forward-looking statements' made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are typically preceded by words such as 'believes,' 'expects,' 'anticipates,' 'intends,' 'will,' 'may,' 'should,' or similar expressions. These forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct or that those goals will be achieved, and you should be aware that actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, risks associated with market conditions.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. We have no obligation, and expressly disclaim any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Sarah Cavanaugh

Tel: (508) 864-8337

Email: scavanaugh@celldex.com

Patrick Till

Tel: (484) 788-8560

Email: ptill@meruadvisors.com

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