-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Kk+eo6yxDvJPCmt9cOsATj7pHR6AGxTqQaXWIgOuSL6sip1ZmAO2O6kJqABTaatm
 n4D3nbVMaotzhcrlMMa0Ew==

<SEC-DOCUMENT>0001157523-09-003391.txt : 20090505
<SEC-HEADER>0001157523-09-003391.hdr.sgml : 20090505
<ACCEPTANCE-DATETIME>20090505080208
ACCESSION NUMBER:		0001157523-09-003391
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090505
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090505
DATE AS OF CHANGE:		20090505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Celldex Therapeutics, Inc.
		CENTRAL INDEX KEY:			0000744218
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				133191702
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15006
		FILM NUMBER:		09795454

	BUSINESS ADDRESS:	
		STREET 1:		119 FOURTH AVE
		CITY:			NEEDHAM
		STATE:			MA
		ZIP:			02494
		BUSINESS PHONE:		7814330771

	MAIL ADDRESS:	
		STREET 1:		119 FOURTH AVE
		CITY:			NEEDHAM
		STATE:			MA
		ZIP:			02494-2725

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AVANT IMMUNOTHERAPEUTICS INC
		DATE OF NAME CHANGE:	19980828

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	T CELL SCIENCES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5955788.htm
<DESCRIPTION>CELLDEX THERAPEUTICS, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <hr style="text-align: center; color: #000000; width: 100%; height: 1.0 pt">
    <hr style="text-align: center; color: #000000; width: 100%; height: 1.0 pt">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Washington,
      D.C. 20549</font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt">PURSUANT
      TO SECTION 13 OR 15(d)</font><br><font style="font-family: Times New Roman; font-size: 12pt">OF
      THE SECURITIES EXCHANGE ACT OF 1934</font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported): &#160;</font><font style="font-family: Times New Roman; font-size: 10pt"><b>May
      5, 2009</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CELLDEX
      THERAPEUTICS, INC.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br>
    </p>
    <p style="text-align: center">
      <br>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; width: 34%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>0-15006</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>13-3191702</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            of incorporation)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 34%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="top" style="width: 25%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="width: 50%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>119 Fourth Avenue<br>Needham, Massachusetts 02494-2725</b>
          </p>
        </td>
        <td valign="bottom" style="width: 25%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)(Zip Code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>(781)
      433-0771</b></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman">(Registrant&#8217;s
      telephone number, including area code)</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font>
    </p>
    <p style="text-align: left">

    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c)) </font>
    </p>
    <p>
      <br>
      <br>

    </p>
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">


    <p>

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Item
      2.02.&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font>
    </p>
    <p>
      On May 5, 2009, Celldex Therapeutics, Inc. issued a press release
      announcing its financial results for the first quarter of 2009.&#160;&#160;The
      full text of the press release is furnished as Exhibit 99.1 hereto and
      is incorporated by reference herein.
    </p>
    <p>
      The information in this Item 2.02 of this Current Report on Form 8-K and
      Exhibit 99.1 attached hereto shall not be deemed &#8220;filed&#8221; for purposes of
      Section 18 of the Securities Exchange Act of 1934, as amended (the
      &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that
      Section, nor shall such information be deemed incorporated by reference
      in any filing under the Securities Act of 1933, as amended (the
      &#8220;Securities Act&#8221;), or the Exchange Act, except as shall be expressly set
      forth by specific reference in such a filing.
    </p>
    <p>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Item
      9.01.&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font>
    </p>
    <p>
      <u>(d) Exhibits</u>
    </p>
    <p style="text-align: left">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press Release of Celldex Therapeutics, Inc., dated May 5,
      2009.
    </p>
    <p style="text-align: left">

    </p>
    <p style="text-align: left">

    </p>
    <p style="text-align: center">
      [Remainder of page left blank intentionally]
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">SIGNATURE</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, as amended, the
      registrant has duly caused this report to be </font>filed <font style="font-size: 10pt; font-family: Times New Roman">on
      its behalf by the undersigned hereunto duly authorized.</font>
    </p>
    <p>
      <br>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Celldex Therapeutics, Inc.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; width: 6%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated:
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; width: 44%; text-align: left; padding-left: 0.0px">
          May 5, 2009
        </td>
        <td valign="top" style="padding-bottom: 2.0px; width: 4%; text-align: left; padding-left: 0.0px">
          By:
        </td>
        <td style="width: 4%; border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" style="width: 42%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Avery W. Catlin
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td valign="top" style="width: 42%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Avery W. Catlin
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="width: 42%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President and
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="width: 42%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      Exhibit Index
    </p>
    <p style="text-align: left">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press Release of Celldex Therapeutics, Inc., dated May 5,
      2009.
    </p>
    <p style="text-align: left">

    </p>
    <p>

    </p>
  </body>
</html>
<!--<!DOCTYPE html
     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5955788ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Celldex
      Reports First Quarter 2009 Financial Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>-
      Conference Call Tuesday, May 5, at 9:00 a.m. Eastern Time -</b></font>
    </p>
    <p>
      NEEDHAM, Mass.--(BUSINESS WIRE)--May 5, 2009--Celldex Therapeutics, Inc.
      (NASDAQ: CLDX) today reported financial results for the first quarter
      ended March 31, 2009. Celldex reported a net loss of $7.7 million, or
      $0.49 per share, for the first quarter of 2009 compared to a net loss of
      $22.1 million, or $2.19 per share, for the first quarter of 2008. On
      March&#160;7, 2008, privately-held Celldex Therapeutics, Inc. completed its
      merger with a wholly-owned subsidiary of AVANT Immunotherapeutics, Inc.
      and, effective October 1, 2008, AVANT changed its name to Celldex
      Therapeutics, Inc.
    </p>
    <p>
      As discussed in further detail later in this release, the decrease in
      net loss between the three-month periods was primarily due to increased
      revenues, gain on sale of assets in 2009 as well as a non-cash charge in
      2008 of $14.8 million related to purchased in-process research and
      development (R&amp;D) recorded in connection with the merger, offset by
      increased R&amp;D expenses in 2009 as a result of the combined operations of
      AVANT and Celldex. At March 31, 2009, Celldex reported cash and cash
      equivalents of $39.4 million.
    </p>
    <p>
      &#8220;In the first quarter of 2009, Celldex continued to add value to our
      Precision Targeted Immunotherapy Platform by in-licensing two additional
      molecules for development in cancer, inflammatory and infectious
      diseases,&#8221; said Anthony S. Marucci, Celldex&#8217;s President and Chief
      Executive Officer. &#8220;This license marks the third strategic transaction
      we&#8217;ve closed in the past year to obtain rights to technologies and
      product candidates whose therapeutic potential we believe can be fully
      realized through integration with our Precision Targeted Immunotherapy
      Platform. We look forward to exploring these molecules and advancing
      other candidates from the Platform into clinical trials in the coming
      months.&#8221;
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>First quarter and recent highlights:</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Enhanced our Precision Targeted Immunotherapy Platform&#8212;acquired
        exclusive rights to the immune-stimulatory molecules FMS-like tyrosine
        kinase 3 ligand (Flt3L) and CD40 ligand (CD40L) from Amgen.
      </li>
      <li style="margin-bottom: 10.0px">
        Divested non-core assets&#8212;entered into a worldwide fee- and
        royalty-bearing exclusive license and development agreement with
        Vaccine Technologies, Inc. (VTI) to develop and commercialize
        Celldex's CholeraGarde(R) and ETEC vaccine programs and sold our
        poultry vaccines assets to Lohmann Animal Health International.
      </li>
    </ul>
    <p>
      The Company will be making an oral presentation on June 1<sup>st</sup>
      of safety and immune activity data from its first antibody-based
      dendritic cell targeted vaccine, CDX-1307, in combination with multiple
      immune modulators at the annual meeting of the American Society of
      Clinical Oncology (ASCO) in Orlando, Florida. Mature data from the ACT
      II study, a trial testing CDX-110 in newly diagnosed Glioblastoma
      Multiforme, will also be presented at ASCO.
    </p>
    <p>
      <b>Further Financial Highlights</b>
    </p>
    <p>
      The net loss of $7.7 million for the first quarter of 2009 represents an
      improvement of $14.4 million when compared to the net loss for the same
      period in 2008, primarily due to the non-cash charge of $14.8 million
      for purchased in-process R&amp;D recorded in 2008. R&amp;D expense in the first
      quarter of 2009 increased by $4.2 million compared to R&amp;D expense in
      2008 due primarily to the combined operations of AVANT and Celldex for
      the full quarter, including increased personnel-related expenses,
      royalty and license fee expenses, clinical trials costs for CDX-110 and
      CDX-1307 and facility-related costs. General and administrative (G&amp;A)
      expenses increased by $0.3 million to $3.3 million in 2009 as compared
      to G&amp;A expense of $3.0 million in the first quarter of 2008.
    </p>
    <p>
      Revenues for 2009 increased by $3.6 million compared with revenues for
      2008. The increase in product development and licensing revenue in 2009
      primarily reflects recognition of $1.3 million in Pfizer deferred
      revenue related to CDX-110 in 2009. The increase in contracts and grants
      revenue in 2009 compared to 2008 primarily reflects increased levels of
      vaccine development work billable to Rockefeller University between the
      two three-month periods. In 2009, Celldex also recognized $2.1 million
      in product royalty revenue related to offsetting royalty expense payable
      to Cincinnati Children&#8217;s Hospital. There was no product royalty revenue
      in 2008.
    </p>
    <p>
      As of March 31, 2009, the Company had approximately 15.8&#160;million shares
      outstanding.
    </p>
    <p>
      <u><i>Important Information Related to Celldex&#8217;s Financial Results</i></u>
    </p>
    <p>
      On March&#160;7, 2008, the Company completed the merger of its wholly-owned
      subsidiary with privately-held Celldex Therapeutics, Inc. In connection
      with the merger, the Company implemented a 1-for-12 reverse stock split
      of its common stock on March&#160;7, 2008.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The merger was accounted for using the purchase method of accounting and
      was treated as an acquisition by Celldex of AVANT, with Celldex being
      considered the accounting acquirer even though AVANT was the issuer of
      common stock and surviving legal entity in the transaction. Because
      Celldex was determined to be the acquirer for accounting purposes, the
      historical financial statements of Celldex became the historical
      financial statements of the Company. Accordingly, the financial
      statements of the Company prior to the merger reflect the financial
      position, results of operations and cash flows of pre-merger,
      privately-held Celldex only. The 2008 financial statements reflect the
      financial position, results of operation and cash flows of
      privately-held Celldex for the three-month period ended March 31, 2008
      combined with the results of operations of AVANT beginning March&#160;8, 2008.
    </p>
    <p>
      <u><i>Webcast and Conference Call</i></u>
    </p>
    <p>
      Celldex will host a conference call and live audio webcast at 9:00 AM ET
      on Tuesday, May 5, 2009, to discuss Celldex&#8217;s first quarter 2009
      financial results. To access the conference call, dial 888-713-4213
      (within the U.S.), or 617-213-4865 (if calling from outside the U.S.).
      The passcode for participants is 28022020. An audio replay will be
      available approximately two hours after the call for approximately one
      week and can be accessed by dialing 888-286-8010 (within the U.S.), or
      617-801-6888 (if calling from outside the U.S.). The passcode I.D.
      number is 27922143. The replay will also be available via the Company&#8217;s
      website, <u>www.celldextherapeutics.com</u>, after the live call.
      Additionally, a copy of this press release is available by contacting
      Investor Relations at 781-433-0771.
    </p>
    <p>
      <b>About Celldex Therapeutics, Inc.</b>
    </p>
    <p>
      Celldex Therapeutics is an integrated biopharmaceutical company that
      applies its comprehensive Precision Targeted Immunotherapy Platform to
      generate a pipeline of candidates to treat cancer and other
      difficult-to-treat diseases. Celldex&#8217;s immunotherapy platform includes a
      complementary portfolio of monoclonal antibodies, antibody-targeted
      vaccines and immunomodulators to create novel disease-specific drug
      candidates. For more information, please visit <u>http://www.celldextherapeutics.com</u>.
    </p>
    <p>
      <b>Safe Harbor Statement Under the Private Securities Litigation Reform
      Act of 1995: </b>This release includes forward-looking statements that
      are subject to a variety of risks and uncertainties and reflect
      Celldex&#8217;s current views with respect to future events and financial
      performance. Forward-looking statements include statements with respect
      to our beliefs, plans, objectives, goals, expectations, anticipations,
      assumptions, estimates, intentions and future performance, and involve
      known and unknown risks, uncertainties and other factors, which may be
      beyond our control, and which may cause our actual results, performance
      or achievements to be materially different from future results,
      performance or achievements expressed or implied by such forward-looking
      statements. All statements other than statements of historical fact are
      statements that could be forward-looking statements. You can identify
      these forward-looking statements through our use of words such as &#8220;may,&#8221;
      &#8220;will,&#8221; &#8220;can,&#8221; &#8220;anticipate,&#8221; &#8220;assume,&#8221; &#8220;should,&#8221; &#8220;indicate,&#8221; &#8220;would,&#8221;
      &#8220;believe,&#8221; &#8220;contemplate,&#8221; &#8220;expect,&#8221; &#8220;seek,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221;
      &#8220;plan,&#8221; &#8220;point to,&#8221; &#8220;project,&#8221; &#8220;predict,&#8221; &#8220;could,&#8221; &#8220;intend,&#8221; &#8220;target,&#8221;
      &#8220;potential&#8221; and other similar words and expressions of the future.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      There are a number of important factors that could cause the actual
      results to differ materially from those expressed in any forward-looking
      statement made by us. These factors include, but are not limited to: our
      ability to raise sufficient capital on terms acceptable to us, or at
      all; our ability to adopt our APC Targeting Technology<sup>TM</sup> to
      develop new, safe and effective vaccines against oncology and infectious
      disease indications; our ability to adapt our vectoring systems to
      develop new, safe and effective orally administered vaccines against
      disease causing agents; our ability to successfully complete product
      research and further development, including animal, preclinical and
      clinical studies, and commercialization of CDX-110, CDX-1307, Ty800,
      CDX-1135 (formerly TP10), and other products and the growth of the
      markets for those product candidates; the cost, timing, scope and
      results of ongoing safety and efficacy trials of CDX-110, CDX-1307,
      Ty800, CDX-1135 (formerly TP10), and other preclinical and clinical
      testing; the ability to negotiate strategic partnerships or other
      disposition transactions for our non-core programs, including CETi; our
      ability to manage multiple clinical trials for a variety of product
      candidates at different stages of development; the strategies and
      business plans of our partners, such as Pfizer's plans for CDX-110,
      GlaxoSmithKline&#8217;s plans with respect to Rotarix&#174; and Vaccine
      Technologies&#8217; plans concerning the CholeraGarde&#174; (Peru-15) and ETEC E.
      coli vaccines, which are not within our control, and our ability to
      maintain strong, mutually beneficial relationships with those partners;
      our ability to develop technological capabilities and expand our focus
      to broader markets for vaccines; the availability, cost, delivery and
      quality of clinical and commercial grade materials produced our own
      manufacturing facility or supplied by contract manufacturers and
      partners; the timing, cost and uncertainty of obtaining regulatory
      approvals for product candidates; our ability to develop and
      commercialize products before competitors that are superior to the
      alternatives developed by such competitors; the validity of our patents
      and our ability to avoid intellectual property litigation, which can be
      costly and divert management time and attention; and the other factors
      listed under &#8220;Risk Factors&#8221; in our annual report on Form 10-K.
    </p>
    <p>
      All forward-looking statements are expressly qualified in their entirety
      by this cautionary notice. You are cautioned not to place undue reliance
      on any forward-looking statements, which speak only as of the date of
      this release. We have no obligation, and expressly disclaim any
      obligation, to update, revise or correct any of the forward-looking
      statements, whether as a result of new information, future events or
      otherwise.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; font-size: 8pt; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="10">
          <b>CELLDEX THERAPEUTICS, INC.</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>CONSOLIDATED STATEMENT</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="7">
          <b>Quarter</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          <b>OF OPERATIONS DATA</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7">
          <b>Ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>2009</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>2008</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="7">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>OPERATING REVENUE</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Product Development and Licensing Agreements
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,501,847
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          119,864
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Contracts and Grants
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          139,343
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          27,534
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          Product Royalties
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          2,090,457
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          Total Revenue
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          3,731,647
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          147,398
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>OPERATING EXPENSE</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Research and Development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          8,685,941
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,486,774
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          General and Administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,341,253
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,032,758
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gain on Sale of Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (604,492
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          Charge for In-Process Research and Development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          14,755,908
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" colspan="2">
          Amortization of Acquired Intangible Assets
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          95,309
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          48,894
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          Total Operating Expense
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          11,518,011
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          22,324,334
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Operating Loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (7,786,364
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (22,176,936
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          Investment and Other Income, Net
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          82,487
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          46,254
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          Net Loss
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          (7,703,877
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          (22,130,682
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Basic and Diluted Net Loss per Common Share
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (0.49
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (2.19
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Weighted Average Common Shares Outstanding
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          15,818,946
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          10,127,435
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>CONDENSED CONSOLIDATED</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          <b>BALANCE SHEETS DATA</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3">
          <b>March 31,</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px">
          <b>2009</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px">
          <b>2008</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="7">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Cash and Cash Equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          39,364,362
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          44,257,286
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other Current Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,474,468
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,819,158
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Property and Equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,015,741
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,567,180
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Intangible and Other Assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          8,628,266
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          9,149,611
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 30.0px">
          Total Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          63,482,837
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          69,793,235
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Current Liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          14,051,943
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          14,101,586
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Long-Term Liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          37,640,693
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          37,557,970
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Stockholders' Equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          11,790,201
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: solid black 1.0pt; text-align: right; padding-left: 0.0px">
          18,133,679
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 30.0px" colspan="2">
          Total Liabilities and Stockholders' Equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          63,482,837
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; border-bottom: double black 2.25pt; text-align: right; padding-left: 0.0px">
          69,793,235
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Celldex Therapeutics, Inc.<br>Anthony S. Marucci,781-433-0771<br>President
      and CEO<br>or<br>Celldex Therapeutics, Inc.<br>Avery W. Catlin,
      781-433-0771<br>Chief Financial Officer<br><u>IR@celldextherapeutics.com</u><br>or<br><u>For
      Media:</u><br>BMC Communications Group<br>Dan Budwick, 973-271-6085<br><u>dbudwick@bmccommunications.com</u>
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
