Celldex Loss Narrower Than Estimates

(RTTNews) - Celldex Therapeutics Inc (CLDX) on Monday reported second-quarter net loss of $32.4 million or $0.33 per share compared with a loss of $28.3 million or $0.32 per share last year.

Analysts polled by Thomson Reuters estimated a loss of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $2.2 million from $0.6 million last year, primarily due to its clinical trial collaboration with Bristol-Myers Squibb and a research and development agreement with Rockefeller University.

Operating expenses climbed to $34.9 million from $29.1 million last year, on higher research and general overheads.

The company's cash, cash equivalents and marketable securities as of June 30, were $334, which it expects to be sufficient to fund operating expenses and capital expenditure requirements through 2017.