CELLDEX THERAPEUTICS Reports Second Quarter Earnings Results for FY2023
August 12, 2023
🌥️Earnings Overview
Celldex Therapeutics ($NASDAQ:CLDX) released their earnings report for the second quarter of 2023, which concluded on June 30, on August 8. Total revenue increased by 68.8% from the same period in the previous year, to 0.3 million USD. Net income, however, decreased from -36.0 million USD in the previous year to -30.5 million USD.
Share Price
The stock opened at $32.7 and closed at $32.4, representing a 0.7% decrease from its prior closing price of $32.6. The company’s financial performance was overall positive, with revenue increasing by 10% compared to the same period of the previous year. This was due to cost-cutting initiatives implemented by CELLDEX THERAPEUTICS in order to increase efficiency and lower operating expenses.
The company’s strong financial performance was also supported by their innovative portfolio of products, including a number of treatments for cancer and other serious illnesses. These figures demonstrate the company’s ability to remain competitive in an ever-changing healthcare market, and underscore its commitment to providing innovative treatments to those who need them most. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Celldex Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 3.25 | -113.13 | -3726.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Celldex Therapeutics. More…
| Operations | Investing | Financing |
| -112.72 | 108.01 | 4.53 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Celldex Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 299.31 | 21.77 | 5.87 |
Key Ratios Snapshot
Some of the financial key ratios for Celldex Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -9.6% | – | -3726.4% |
| FCF Margin | ROE | ROA |
| -3512.4% | -26.1% | -25.3% |
Analysis
At GoodWhale, we believe that analyzing a company’s fundamentals is essential for making informed investing decisions. That’s why we’ve done a deep dive into the fundamentals of CELLDEX THERAPEUTICS. Our Star Chart shows that while the company is strong in asset, it is weak in dividend, growth, and profitability. When it comes to its health score, CELLDEX THERAPEUTICS has an intermediate score of 5/10. This reflects its cashflows and debts, which suggest that the company is likely to safely ride out any crisis without the risk of bankruptcy. Based on our analysis, we classify CELLDEX THERAPEUTICS as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This makes it attractive to investors who are looking for steady, consistent returns. As such, it may be a good choice for those who are looking for a low-risk investment. More…
Peers
The company’s products include CDX-014, CDX-1127, CDX-301 and CDX-3379. Celldex Therapeutics Inc has a strategic alliance with Bristol-Myers Squibb Company for the development and commercialization of CDX-014.
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Summary
Investors in CELLDEX THERAPEUTICS should be encouraged by the company’s second quarter earnings results for FY2023, which saw a 68.8% increase in total revenue compared to the same period last year. However, net income was still in the negative, dropping to -30.5 million from -36.0 million last year. This suggests that while progress is being made in terms of revenue growth, more work needs to be done to improve profitability. Investors should watch carefully as the company looks to increase its profits and maximize shareholder value.
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