XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.25.3

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2025
Stock-Based Compensation |
Stock-Based Compensation | (10) Stock-Based Compensation A summary of stock option activity for the nine months ended September 30, 2025 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | 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 |  | 1,978,750 | ​ | $ | 19.59 | ​ | ​
Exercised |  | (50,732) | ​ | $ | 12.49 | ​ | ​
Canceled |  | (289,955) | ​ | $ | 111.23 | ​ | ​
Options outstanding at September 30, 2025 |  | 9,178,172 | ​ | $ | 26.50 | ​ | 7.3
Options vested and expected to vest at September 30, 2025 |  | 9,029,315 | ​ | $ | 26.50 | ​ | 7.3
Options exercisable at September 30, 2025 |  | 5,130,433 | ​ | $ | 25.85 | ​ | 6.1
Shares available for grant under the Celldex Therapeutics, Inc. 2021 Omnibus Equity Incentive Plan (as amended, effective as of June 5, 2025) at September 30, 2025 |  | 2,683,538 | ​ | ​ | ​ | ​ | ​
​ The weighted average grant-date fair value of stock options granted during the three and nine months ended September 30, 2025 was $15.43 and $13.48, respectively. The aggregate intrinsic value of stock options vested and expected to vest at September 30, 2025 was $37.1 million. The aggregate intrinsic value of stock options exercisable at September 30, 2025 was $24.4 million. As of September 30, 2025, total compensation cost related to non-vested employee, consultant and non-employee director stock options not yet recognized was approximately $72.8 million, net of estimated forfeitures, which is expected to be recognized as expense over a weighted average period of 2.7 years. Stock-based compensation expense for the three and nine months ended September 30, 2025 and 2024 was recorded as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
​ | ​ | (In thousands) | ​ | (In thousands)
Research and development | ​ | $ | 4,743 | ​ | $ | 4,880 | ​ | $ | 14,210 | ​ | $ | 12,457
General and administrative | ​ |  | 4,058 | ​ |  | 4,740 | ​ |  | 13,098 | ​ |  | 12,005
Total stock-based compensation expense | ​ | $ | 8,801 | ​ | $ | 9,620 | ​ | $ | 27,308 | ​ | $ | 24,462
​ The fair values of employee, consultant and non-employee director stock options granted during the three and nine months ended September 30, 2025 and 2024 were valued using the Black-Scholes option pricing model with the following assumptions: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Expected stock price volatility |  | 76% | ​ | 82% | ​ | 76 – 81% | ​ | 82 – 93%
Expected option term |  | 6.0 Years | ​ | 6.0 Years | ​ | 6.0 Years | ​ | 6.0 Years
Risk-free interest rate |  | 4.0 – 4.2% | ​ | 3.5 – 4.3% | ​ | 4.0 – 4.7% | ​ | 3.5 – 4.5%
Expected dividend yield |  | None | ​ | None | ​ | None | ​ | None
​

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration