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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

Stock-Based Compensation

Schedule of stock option activity

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​	​	​	​	​	​	​	​
​	​	​	​	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		1,963,850	​	$	19.57	​	​
Exercised		(10,430)	​	$	6.96	​	​
Canceled		(203,201)	​	$	142.75	​	​
Options outstanding at June 30, 2025		9,290,328	​	$	26.55	​	7.5
Options vested and expected to vest at June 30, 2025		9,114,514	​	$	26.55	​	7.5
Options exercisable at June 30, 2025		4,925,518	​	$	25.49	​	6.2
Shares available for grant under the Celldex Therapeutics, Inc. 2021 Omnibus Equity Incentive Plan (as amended, effective as of June 5, 2025) at June 30, 2025		2,611,684	​	​	​	​	​

Schedule of stock-based compensation expense

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Three Months Ended June 30,

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Six Months Ended June 30,

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2025

2024

2025

2024

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(In thousands)

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(In thousands)

Research and development

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$

4,882

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$

3,884

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$

9,467

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$

7,577

General and administrative

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4,309

​

3,756

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9,040

​

7,265

Total stock-based compensation expense

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$

9,191

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$

7,640

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$

18,507

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$

14,842

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

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​	​	​	​	​	​	​	​	​
​	​	Three Months Ended June 30,			​	Six Months Ended June 30,
		2025		2024		2025		2024
Expected stock price volatility		76%	​	82 – 93%	​	76 – 81%	​	82 – 93%
Expected option term		6.0 Years	​	6.0 Years	​	6.0 Years	​	6.0 Years
Risk-free interest rate		4.1 – 4.3%	​	4.2 – 4.5%	​	4.1 – 4.7%	​	4.0 – 4.5%
Expected dividend yield		None	​	None	​	None	​	None

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