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Celldex prices $31.5M stock offering

Wed, 05/18/2011 - 6:42am
Mass High Tech: The Journal of New England Technology

Celldex Therapeutics Inc., the Needham company developing a brain cancer vaccine, has priced a public offering of 10 million shares of its common stock (Nasdaq: CLDX) at about $3.15 per share. The offering would raise $31.5 million, with Celldex taking in about $29.4 million in net proceeds.

Celldex noted in a news release today that it plans to use the proceeds from the stock offering to support clinical trials of its products and to add to its working capital.

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