Stock-Based Compensation (Tables)

3 Months Ended

Mar. 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	40,400	$	22.04
Exercised	(380)	$	8.38
Canceled	(81,381)	$	39.24
Options outstanding at March 31, 2025	7,498,748	$	31.34	7.2
Options vested and expected to vest at March 31, 2025	7,400,964	$	31.29	7.2
Options exercisable at March 31, 2025	4,233,279	$	29.14	6.1
Shares available for grant under the Celldex Therapeutics, Inc. 2021 Omnibus Equity Incentive Plan (as amended, effective as of June 13, 2024) at March 31, 2025	2,413,314

Schedule of stock-based compensation expense

	Three Months Ended March 31,
	2025		2024
	(In thousands)
Research and development	$	4,585	$	3,693
General and administrative		4,731		3,509
Total stock-based compensation expense	$	9,316	$	7,202

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

	Three Months Ended March 31,
	2025	2024
Expected stock price volatility	76 – 81%	92%
Expected option term	6.0 Years	6.0 Years
Risk-free interest rate	4.2 – 4.7%	4.0 - 4.3%
Expected dividend yield	None	None