Celldex Announces Pricing of $90 Million Public Offering of Common Stock

Tue Feb 5, 2013 8:15pm EST

* Reuters is not responsible for the content in this press release.


NEEDHAM, Mass., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc. (Nasdaq:CLDX) today
announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock,
offered at a price to the public of $7.50 per share for an aggregate offering of $90,000,000 of
common stock. The proceeds to Celldex from this offering are expected to be approximately
$84,345,000, after deducting underwriting discounts and commissions and other estimated offering
expenses payable by Celldex. Celldex has granted the underwriters a 30-day option to purchase up
to an aggregate of 1,800,000 additional shares of common stock. All of the shares in the offering
are to be sold by Celldex. The offering is expected to close on or about February 11, 2013,
subject to customary closing conditions.

Jefferies & Company, Inc. and Leerink Swann LLC are acting as joint book-running managers of the
offering. Oppenheimer & Co., Wedbush PacGrow Life Sciences, Brean Capital and Roth Capital
Partners, LLC are acting as co-managers of the offering.

Celldex anticipates using the net proceeds from the offering to fund Celldex's clinical trials of
its product candidates and for working capital and other general corporate purposes.

A shelf registration statement on Form S-3 relating to the shares was filed with the Securities
and Exchange Commission (SEC) and is effective. A preliminary prospectus supplement related to the
offering has been filed with the SEC and is available on the SEC's website located at
. Copies of the final prospectus supplement relating to these securities, when available, may be
obtained from Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520
Madison Avenue, 12th Floor, New York, NY, 10022, by telephone at 877-547-6340 or by email at
 or from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, MA 02110, by telephone at 1-800-808-7525 or by email at Syndicate@Leerink.com

This press release shall not constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such state or other jurisdiction.

About Celldex Therapeutics, Inc.

Celldex Therapeutics is the first antibody-based combination immunotherapy company. Celldex has a
pipeline of drug candidates in development for the treatment of cancer and other
difficult-to-treat diseases based on its antibody focused Precision Targeted Immunotherapy (PTI)
Platform. The PTI Platform is a complementary portfolio of monoclonal antibodies,
antibody-targeted vaccines and immunomodulators used in optimal combinations to create novel
disease-specific drug candidates.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This
announcement contains "forward-looking statements"such as those, among others, relating to
Celldex's expectations regarding the completion and timing of the closing of the public offering
and its anticipated use of net proceeds from the offering. These statements are subject to
significant risks and uncertainties; actual results could differ materially from those projected
and Celldex cautions investors not to place undue reliance on the forward-looking statements
contained in this release. These risks and uncertainties include, without limitation, risks and
uncertainties related to market conditions and satisfaction of customary closing conditions
related to the public offering. There can be no assurance that Celldex will be able to complete
the public offering on the anticipated terms, or at all. Risks and uncertainties relating to
Celldex and its business can be found in the "Risk Factors" section of Celldex's Form 10-K, filed
with the SEC on March 8, 2012, and in the preliminary prospectus supplement and related prospectus
relating to the proposed offering filed with the SEC on February 4, 2013. Celldex undertakes no
duty or obligation to update any forward-looking statements contained in this release as a result
of new information, future events or changes in Celldex's expectations.

CONTACT: Sarah Cavanaugh
         Vice President of IR & Corp Communications
         Celldex Therapeutics, Inc.
         (781) 433-3161