Investment Thesis
Celldex faces critical near-term survival risk with only $35.7M cash against quarterly burn of ~$65.6M, providing less than one quarter of runway. Revenue has collapsed 78% YoY to just $15K, while the company operates at a massive -$84.4M operating loss with negative free cash flow of -$67.2M, indicating unsustainable business fundamentals absent immediate turnaround or capital infusion.
Strengths
- Strong balance sheet with $456.2M stockholders equity and $511.3M total assets
- Zero debt (0.00x debt-to-equity) with no interest coverage concerns
- Excellent liquidity position with 8.92x current ratio providing short-term flexibility
Risks
- Critical cash runway of <1 quarter at current burn rate ($35.7M cash vs -$65.6M operating cash flow)
- Catastrophic revenue decline of 78% YoY with only $15K revenue base suggesting major commercial or operational failure
- Unsustainable cash burn with -$67.2M free cash flow and no path to profitability evident in near term
- Zero insider activity in last 90 days suggests management confidence concerns or freeze pending major announcements
- Company appears to be in advanced distress requiring immediate capital raise, restructuring, or acquisition
Key Metrics to Watch
- Quarterly cash burn rate and remaining cash runway
- Any capital raise announcements or debt financing activity
- Revenue trajectory and new product commercialization progress
Financial Metrics
Revenue
15.0K
Net Income
-78.7M
EPS (Diluted)
$-1.18
Free Cash Flow
-67.2M
Total Assets
511.3M
Cash
35.7M
Profitability Ratios
Gross Margin
N/A
Operating Margin
-562,900.0%
Net Margin
-524,566.7%
ROE
-17.2%
ROA
-15.4%
FCF Margin
-448,180.0%
Balance Sheet & Liquidity
Current Ratio
8.92x
Quick Ratio
8.92x
Debt/Equity
0.00x
Debt/Assets
10.8%
Interest Coverage
-91.08x
Long-term Debt
N/A
Disclaimer: This analysis is generated by AI based on publicly available SEC EDGAR filings.
It does not include stock price data and should not be considered financial advice.
All fundamental data is sourced from SEC public domain filings.
Always conduct your own research before making investment decisions.
Data Source: SEC EDGAR |
Analysis Date: 2026-05-16T08:50:33.705155 |
Data as of: 2026-03-31 |
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