CLDXCelldex Therapeutics, Inc.
Is the business good?
The checks split: margins widening, but 1 of 9 health tests passed.
Weak, deteriorating fundamentals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CLDX?
Celldex Therapeutics, Inc. spent more than it took in: an operating loss of $326M on $158K of revenue, 12 months to Q2 2026.
Operating loss · on $158K of revenue · 12 months to Q2 2026
- Share count, year on year
- +17%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −854% |
| FY2021 | −1532% |
| FY2022 | −4889% |
| FY2023 | −2245% |
| FY2024 | −2779% |
| FY2025 | −18600% |
Details›
- Operating margin12 months to Q2 2026
- −206220%
- Net margin12 months to Q2 2026
- −190221%
- Free cash flow margin
- −153231%
- R&D as % of revenue
- 176460%
- Revenue, trailing twelve months
- $158K
- Free cash flow, trailing twelve months
- −$242M
- Net income, trailing twelve months
- −$301M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from CLDX and who it buys from, as the companies report it.
- Rockefeller University93%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; CLDX’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.