Celldex Therapeutics Inc (NASDAQ:CLDX) Reports Q2 2025 Earnings: Revenue Misses Estimates, EPS Narrowly Beats Expectations
Celldex Therapeutics Inc released its second-quarter 2025 financial results, reporting revenue of $730,000, falling short of analyst estimates of $1.03 million. The company's earnings per share (EPS) came in at -$0.85, slightly better than the anticipated -$0.87. Despite the revenue miss, the market reaction has been relatively muted in after-hours trading, with no significant price movement. Over the past month, the stock has declined by approximately 6.5%, reflecting broader investor caution ahead of the earnings release.
Key Financial Takeaways
- Revenue: Reported $730,000 vs. $1.03 million estimated (a 29% miss).
- EPS: Reported -$0.85 vs. -$0.87 estimated (a narrow beat).
- Cash Position: The company ended the quarter with $630.3 million in cash and marketable securities, down from $673.3 million in Q1 2025. Management expects this liquidity to fund operations through 2027.
- R&D Expenses: Increased to $54.2 million, up from $39.7 million in Q2 2024, reflecting higher clinical trial and manufacturing costs for barzolvolimab.
- Net Loss: Widened to $56.6 million (-$0.85 per share) compared to $35.8 million (-$0.54 per share) in the prior-year quarter.
Pipeline and Clinical Progress
The earnings release highlighted significant advancements in Celldex’s clinical programs, particularly for its lead candidate, barzolvolimab, a KIT inhibitor targeting mast cell-driven diseases:
- Chronic Spontaneous Urticaria (CSU):
- Phase 3 trials (EMBARQ-CSU1 and EMBARQ-CSU2) are ongoing, with full enrollment expected by mid-2026.
- Phase 2 data showed 41% of patients maintained a complete response at 76 weeks, with sustained quality-of-life improvements.
- Chronic Inducible Urticaria (CIndU):
- A Phase 3 program is expected to begin in the second half of 2025.
- Phase 2 results met all primary and secondary endpoints.
- Additional Indications:
- Phase 2 data for eosinophilic esophagitis (EoE) expected in H2 2025.
- Enrollment continues for prurigo nodularis (PN) and atopic dermatitis (AD) studies.
- Bispecific Antibody (CDX-622):
- Phase 1 data in healthy volunteers anticipated in H2 2025.
Market Reaction and Outlook
The lack of a strong market reaction suggests investors were already pricing in a mixed earnings report. While the revenue miss is a concern, the EPS beat and strong cash runway may provide some reassurance. The company did not provide explicit forward revenue guidance, but analysts estimate:
- Q3 2025 Revenue: $1.07 million (vs. current reported Q2 revenue of $730,000).
- Full-Year 2025 Revenue: $3.65 million.
Given Celldex’s clinical-stage status, investor focus remains on pipeline execution rather than near-term revenue. The upcoming data readouts for barzolvolimab in EoE and CIndU, as well as the CDX-622 Phase 1 results, could serve as key catalysts.
For more detailed earnings estimates and historical performance, see Celldex Therapeutics Inc Earnings & Estimates.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.
