Celldex Therapeutics Announces Proposed Public Offering Of Common Stock; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Celldex Therapeutics (NASDAQ:CLDX) has announced a proposed public offering of its common stock, with the final terms dependent on market conditions. The company plans to use the proceeds for the development of its product candidates, including barzolvolimab, and for general corporate purposes. Jefferies and Leerink Partners are the joint book-running managers for the offering.
November 07, 2023 | 9:59 pm
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Celldex's proposed public offering could dilute existing shares, potentially leading to a short-term decrease in stock price. However, the funds raised could support the company's product development, which may have positive long-term effects.
Public offerings often lead to share dilution, which can decrease the stock price in the short term. However, the funds raised can be used for product development, which could potentially increase the company's value in the long term.
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