Celldex Therapeutics, Inc. (CLDX) saw its loss narrow to $32.31 million, or $0.30 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $32.68 million, or $0.33 a share.
Revenue during the quarter grew 4.69 percent to $1.87 million from $1.79 million in the previous year period.
Operating loss for the quarter was $34.85 million, compared with an operating loss of $33.44 million in the previous year period.
"Celldex made important progress across our pipeline in the fourth quarter, including successfully completing the integration of Kolltan Pharmaceuticals and its novel RTK antibody programs into our organization and driving a considerable uptick in enrollment in our ongoing study of glembatumumab vedotin in triple negative breast cancer," said Anthony Marucci, Co-founder, president and chief executive officer of Celldex Therapeutics. "As we look to 2017, we have prioritized completing the glemba studies in breast cancer and checkpoint-refractory metastatic melanoma, the Phase 2 collaborative study of varlilumab with BMS's Opdivo and our Phase 1 studies of both CDX-0158 and CDX-014. Data from a number of these programs are expected to be available over the next 6 to 12 months."
Working capital drops significantly
Celldex Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $160.35 million as at Dec. 31, 2016, down 39.42 percent or $104.35 million from $264.70 million on Dec. 31, 2015. Current ratio was at 5.55 as on Dec. 31, 2016, down from 9.75 on Dec. 31, 2015.
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