Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Stock-Based Compensation

Schedule of stock option activity

		Weighted		Weighted
		Average		Average
		Exercise		Remaining
		Price		Contractual
	Shares	Per Share		Term (In Years)
Options outstanding at December 31, 2024	7,540,109	$	31.47	7.5
Granted	2,154,350	$	19.96
Exercised	(153,328)	$	13.80
Canceled	(406,853)	$	89.06
Options outstanding at December 31, 2025	9,134,278	$	26.49	7.1
Options vested and expected to vest at December 31, 2025	9,003,451	$	26.50	7.1
Options exercisable at December 31, 2025	5,284,496	$	26.34	6.0
Shares available for grant under the Celldex Therapeutics, Inc. 2021 Omnibus Equity Incentive Plan (as amended, effective as of June 5, 2025) at December 31, 2025	2,624,836

Schedule of stock-based compensation expense

	2025		2024		2023
	(In thousands)
Research and development	$	19,018	$	17,442	$	11,948
General and administrative		17,199		16,800		11,942
Total stock-based compensation expense	$	36,217	$	34,242	$	23,890

Schedule of assumptions used for the fair value of employee stock options granted

	2025	2024	2023
Expected stock price volatility	76 – 81%	82 -93%	92%
Expected option term	6.0 Years	6.0 Years	6.0 Years
Risk-free interest rate	3.8 – 4.7%	3.5 - 4.5%	3.5 - 4.7%
Expected dividend yield	None	None	None