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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 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 |  | 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 | ​ | ​ | ​ | ​ | ​
Schedule of stock-based compensation expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​
Schedule of assumptions used for the fair value of employee stock options granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​

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