Celldex announces $250M offering of common stock

Celldex Therapeutics announced that it is proposing to offer and sell, subject to market conditions, $250M of shares of its common stock in an underwritten public offering. Celldex intends to use the net proceeds from the offering to continue clinical and preclinical development of its product candidates, including current and future development of barzolvolimab, growing its bispecific antibody platform and clinical candidates, funding ongoing efforts to develop additional clinical pipeline products and for general corporate purposes. Leerink Partners and TD Cowen are acting as the joint bookrunning managers for the proposed offering.