Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

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, 2023	6,378,924	$	29.69	7.5
Granted	1,907,820	$	36.42
Exercised	(649,672)	$	12.99
Canceled	(109,968)	$	120.83
Options outstanding at September 30, 2024	7,527,104	$	31.51	7.7
Options vested and expected to vest at September 30, 2024	7,381,038	$	31.44	7.7
Options exercisable at September 30, 2024	3,746,377	$	29.19	6.4
Shares available for grant under the Celldex Therapeutics, Inc. 2021 Omnibus Equity Incentive Plan (as amended, effective as of June 13, 2024) at September 30, 2024	2,415,651

Schedule of stock-based compensation expense

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)				(In thousands)
Research and development	$	4,880	$	3,618	$	12,457	$	8,269
General and administrative		4,740		3,503		12,005		8,409
Total stock-based compensation expense	$	9,620	$	7,121	$	24,462	$	16,678

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

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Expected stock price volatility	82%	92%	82 – 93%	92%
Expected option term	6.0 Years	6.0 Years	6.0 Years	6.0 Years
Risk-free interest rate	3.5 – 4.3%	4.1%	3.5 – 4.5%	3.5 – 4.1%
Expected dividend yield	None	None	None	None