Equity Profile

CLDX

Celldex Therapeutics, Inc.

Health CareBiotechnology$3.3B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Celldex Therapeutics, Inc. is a biotechnology company focused on developing innovative therapies for cancer and other serious diseases....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of the company's profitability and financial health, which investors closely monitor.

$-1.01

Revenue

Revenue figures provide insight into the company's sales performance and market demand for its products.

$1M

Wall Street expectations, options signals, track record, and call prep available with Pro.

CLDX Q2-2026 Earnings Preview

Context

Company Snapshot

Celldex Therapeutics, Inc. is a biotechnology company focused on developing innovative therapies for cancer and other serious diseases. With a market cap of $3 billion, it operates in the health care sector, which is increasingly important as advancements in biotechnology continue to shape treatment options.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-3.75%

Avg Stock Reaction

+3.90%

Last Quarter Recap

In Q1-2026, Celldex reported an EPS of $-1.18, missing expectations by 6.88%. The stock reacted negatively, declining by 3.11% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Celldex to report a loss this quarter, with a consensus EPS of $-1.01 and minimal revenue. The market is watching closely for any signs of improvement.

Bull Case

If Celldex can beat EPS expectations and show stronger revenue growth, it may indicate progress in its product pipeline, boosting investor confidence.

Bear Case

A larger-than-expected loss or disappointing revenue could raise concerns about the company's financial stability and future prospects.

Key Metrics to Watch

EPS

$-1.01

Earnings per share (EPS) is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

$1M

Revenue figures provide insight into the company's sales performance and market demand for its products.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-1.01?

A better-than-expected EPS could signal improvements in operational efficiency or cost management, which would be crucial for investor confidence.

What revenue figures will Celldex report, and how do they compare to the expected $1M?

Revenue performance is critical for assessing market demand for Celldex's products and overall financial health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be overly pessimistic about Celldex's potential for revenue growth, given recent advancements in its pipeline that could lead to stronger-than-expected sales.

Supporting Evidence

The options market is pricing in a 23.62% move, suggesting significant uncertainty that may not align with the company's actual performance.

Celldex has historically shown the ability to surprise on the upside, as evidenced by past quarters where they exceeded expectations despite a challenging environment.

Key Risk

If the revenue comes in above $1M, it could challenge the current bearish sentiment and shift investor perception.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's focus is on whether Celldex can turn around its recent performance and meet or exceed market expectations.

Bull Confirmed If

An EPS of $-0.94 or better, along with revenue exceeding $1M, would confirm a positive outlook.

Bear Confirmed If

An EPS worse than $-1.07, coupled with revenue below $1M, would suggest ongoing challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±23.62%

Historical Avg

±5.6%

Pricing rich

The options market is pricing in a significant potential move in either direction, indicating uncertainty about the upcoming earnings report.

Options are pricing ±23.6% while CLDX has averaged ±5.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

33.3%

Calls (1K)P/C Ratio: 1.00Puts (600)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 14 of 29 (48%)

This setup has occurred 30 times across Health Care in the last 2 years. 14 of 29 faded and 15 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.7%, with a raw directional average of -1.4% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Celldex beats expectations, history suggests a positive reaction of around +2.01% on average, confirming a bullish outlook.

In-Line / Cautious

If results are in line with expectations, the market may react cautiously, leading to a muted response.

Miss

A miss could lead to a decline of around -5.80%, reflecting ongoing investor concerns about the company's trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the progress of key drug candidates in the pipeline.
2Management's commentary on cost management strategies and operational efficiencies.
3Insights into market demand and competitive positioning for Celldex's products.
4Any guidance on future revenue expectations or upcoming milestones.
5Responses to analyst questions regarding recent performance and strategic direction.

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Company Snapshot

Celldex Therapeutics, Inc. is a biotechnology company focused on developing innovative therapies for cancer and other serious diseases....

Key Metrics to Watch

EPS

Earnings per share (EPS) is a key indicator of the company's profitability and financial health, which investors closely monitor.

$-1.01

Revenue

Revenue figures provide insight into the company's sales performance and market demand for its products.

$1M

Wall Street expectations, options signals, track record, and call prep available with Pro.

CLDX Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-3.75%

Avg Stock Reaction

+3.90%

Last Quarter Recap

In Q1-2026, Celldex reported an EPS of $-1.18, missing expectations by 6.88%. The stock reacted negatively, declining by 3.11% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Celldex to report a loss this quarter, with a consensus EPS of $-1.01 and minimal revenue. The market is watching closely for any signs of improvement.

Bull Case

If Celldex can beat EPS expectations and show stronger revenue growth, it may indicate progress in its product pipeline, boosting investor confidence.

Bear Case

A larger-than-expected loss or disappointing revenue could raise concerns about the company's financial stability and future prospects.

Key Metrics to Watch

EPS

$-1.01

Earnings per share (EPS) is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

$1M

Revenue figures provide insight into the company's sales performance and market demand for its products.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-1.01?

A better-than-expected EPS could signal improvements in operational efficiency or cost management, which would be crucial for investor confidence.

What revenue figures will Celldex report, and how do they compare to the expected $1M?

Revenue performance is critical for assessing market demand for Celldex's products and overall financial health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be overly pessimistic about Celldex's potential for revenue growth, given recent advancements in its pipeline that could lead to stronger-than-expected sales.

Supporting Evidence

The options market is pricing in a 23.62% move, suggesting significant uncertainty that may not align with the company's actual performance.

Celldex has historically shown the ability to surprise on the upside, as evidenced by past quarters where they exceeded expectations despite a challenging environment.

Key Risk

If the revenue comes in above $1M, it could challenge the current bearish sentiment and shift investor perception.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's focus is on whether Celldex can turn around its recent performance and meet or exceed market expectations.

Bull Confirmed If

An EPS of $-0.94 or better, along with revenue exceeding $1M, would confirm a positive outlook.

Bear Confirmed If

An EPS worse than $-1.07, coupled with revenue below $1M, would suggest ongoing challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±23.62%

Historical Avg

±5.6%

Pricing rich

The options market is pricing in a significant potential move in either direction, indicating uncertainty about the upcoming earnings report.

Options are pricing ±23.6% while CLDX has averaged ±5.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

33.3%

Calls (1K)P/C Ratio: 1.00Puts (600)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 14 of 29 (48%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Celldex beats expectations, history suggests a positive reaction of around +2.01% on average, confirming a bullish outlook.

In-Line / Cautious

If results are in line with expectations, the market may react cautiously, leading to a muted response.

Miss

A miss could lead to a decline of around -5.80%, reflecting ongoing investor concerns about the company's trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the progress of key drug candidates in the pipeline.
2Management's commentary on cost management strategies and operational efficiencies.
3Insights into market demand and competitive positioning for Celldex's products.
4Any guidance on future revenue expectations or upcoming milestones.
5Responses to analyst questions regarding recent performance and strategic direction.