Celldex Thera Drops 13% After Share Offering

Celldex Therapeutics CLDX today announced that it is offering shares of its common stock in an underwritten public offering. All of the shares in the offering will be sold by Celldex. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) on Form S-3. Jefferies & Company, Inc. is acting as the sole book-running manager for the proposed offering. Wedbush Securities Inc. is acting as co-manager for the proposed offering.