New York, February 26, 2026, 08:57 EST — Premarket
- CLDX slipped roughly 4% before the bell, trading at $29.58.
- Shares surged 24% last session, finishing at $30.82.
- Celldex’s 2026 clinical-update calendar is drawing investors’ attention now.
Celldex Therapeutics slipped roughly 4% to $29.58 before the bell Thursday, trimming back a portion of the previous session’s 24% surge that left the stock finishing at $30.82. (Investing.com)
This time, it wasn’t a headline sparking the reaction—the real trigger was a shift in the timeline. Clinical-stage biotechs live and die by how fast they enroll patients in late-stage studies, and delays here are notorious for tripping up execution. That’s where investors typically zero in on risk first.
It’s a shift in what counts as “next.” Now, traders frame their expectations on data drops and regulatory moves, not only trial enrollment. That usually drives positioning to tighten up heading into the next batch of conference headlines.
Celldex wrapped up patient enrollment in its two global Phase 3 trials of barzolvolimab for chronic spontaneous urticaria (CSU)—a type of hives—about six months faster than it projected. All told, 1,939 participants signed up at more than 500 sites spanning 43 countries, the company said. An initial look at the data is due in the fourth quarter of 2026, with a U.S. Biologics License Application (BLA) on the docket for 2027. “The early completion highlights the significant unmet need,” CEO Anthony Marucci said, adding that Celldex is now getting ready to expand patient access to the drug. (GlobeNewswire)
Barzolvolimab zeroes in on the KIT receptor on mast cells—the immune cells behind itch and swelling. According to Celldex, the CSU program covers patients who still show symptoms after H1 antihistamines, plus those who haven’t responded to advanced treatments like omalizumab.
Celldex reported a fourth-quarter net loss of $81.3 million, or $1.22 per share, according to a regulatory filing. For the full year, losses widened to $258.8 million as research and development expenses increased. The company finished 2025 with $518.6 million in cash, cash equivalents, and marketable securities, expecting that cash to cover operations through 2027. Celldex plans to present Phase 2 results at the American Academy of Allergy, Asthma & Immunology (AAAI) annual meeting from Feb. 27 to March 2, including a late-breaking poster on March 1, describing 2026 as a pivotal year for clinical data. (SEC)
Heavy volume fueled Wednesday’s surge, pointing to quick-trigger trading and some bigger players reassessing their positions on the news. By early Thursday, a premarket dip signaled hesitation—plenty of traders looked unwilling to ride that volatility into the open.
For CSU, biologics step in once antihistamines no longer cut it. Omalizumab is frequently referenced as the gold standard for more stubborn cases. Celldex, meanwhile, is positioning barzolvolimab as a mast-cell targeted option and highlighting late-stage development timelines as proof of its potential to investors.
Still, enrolling patients quickly doesn’t guarantee clinical success. There’s always the risk that Phase 3 won’t hit its endpoints or could surface safety issues. If readouts are pushed back, that runway gets narrower for a company burning cash before product revenue arrives.
The next event is nearly here: the AAAAI meeting kicks off Friday, and Celldex has a late-breaking poster set for March 1. After that, investors are eyeing further 2026 pipeline news, before the bigger catalyst—Phase 3 CSU topline data—lands sometime in the fourth quarter of 2026.
