Once the new shares are absorbed I bet Celldex will go up sharply.
CLDX's pipeline has at least 3 drugs with amazing combination potential..
I am talking about cdx-301, cdx-1127, and cdx-1401. cdx-1401 is already in a trial with another drug made by at least one other company. When you think of all the possible combinations of Celldex's drugs with drugs from other biotechs/pharma the number of combinations is huge. Also, any week now expect a combo trial to start with cdx-301.
I think the market is waiting for confirmation of the complettion of the secondary and moreover to see if the overallotment is taken. If the overallotment is taken, then it shows underwriters see value in the shares at offer price and have put their money where their mouth is. We assume it will go smoothly and overallotment will also sell out quickly, but big buyers want proof. It's coming IMO and perhaps, just perhaps by some stroke of luck it the straw of good news in string of good news to (finally) break the camel's back and set course for move up. Or we may have to wait until options expire or CDX-1135 data comes in or news on a deal or breakthrough status or FDA rules changes or end of tax loss selling for those who bought in 3Q or January effect or the moon and the stars align or who knows . . . .. .