NATURE OF BUSINESS AND OVERVIEW	12 Months Ended
Dec. 31, 2012
NATURE OF BUSINESS AND OVERVIEW
NATURE OF BUSINESS AND OVERVIEW	(1) NATURE OF BUSINESS AND OVERVIEW Celldex Therapeutics, Inc. (the "Company" or "Celldex") is a biopharmaceutical company focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other difficult-to-treat diseases. The Company's lead drug candidates include rindopepimut (CDX-110), a targeted immunotherapeutic in a pivotal Phase 3 study for the treatment of front-line glioblastoma and a Phase 2 study for the treatment of recurrent glioblastoma and CDX-011, an antibody-drug conjugate which recently completed a randomized Phase 2b study for the treatment of advanced breast cancer. The Company has additional clinical programs, including CDX-1135, a molecule that inhibits a part of the immune system called the complement system, CDX-1127, a therapeutic human antibody for cancer indications, CDX-301, an immune cell mobilizing agent and dendritic cell growth factor and CDX-1401, an APC Targeting Technology™ program for cancer indications. At December 31, 2012, the Company had cash, cash equivalents and marketable securities of $84.0 million; working capital of $67.4 million; and a Term Loan balance of $11.3 million. The Company incurred a loss of $59.1 million for the year ended December 31, 2012. Net cash used in operations for the year ended December 31, 2012 was $49.8 million. In January 2013, the Company issued 2,433,608 shares of common stock under the Cantor Amendment and raised $17.1 million in net proceeds. In February 2013, the Company issued 13,800,000 shares of common stock in an underwritten public offering and raised $97.0 million, after deducting underwriting fees and estimated offering expenses. The Company believes that the cash, cash equivalents and marketable securities at December 31, 2012, the $17.1 million raised under the Cantor Amendment in January 2013 and the $97.0 million raised in the underwritten public offering in February 2013 will be sufficient to meet estimated working capital requirements and fund planned operations for at least the next twelve months. During the next twelve months, the Company may take further steps to raise additional capital to meet its long-term liquidity needs. These capital raising activities may include, but may not be limited to, one or more of the following: the licensing of technology programs with existing or new collaborative partners, possible business combinations, issuance of debt, or the issuance of common stock or other securities via private placements or public offerings. While the Company continues to seek capital through a number of means, there can be no assurance that additional financing will be available on acceptable terms, if at all, and the Company's negotiating position in capital-raising efforts may worsen as existing resources are used. There is also no assurance that the Company will be able to enter into further collaborative relationships. Additional equity financings may be dilutive to the Company's stockholders; debt financing, if available, may involve significant cash payment obligations and covenants that restrict the Company's ability to operate as a business; and licensing or strategic collaborations may result in royalties or other terms which reduce the Company's economic potential from products under development. If the Company is unable to raise the funds necessary to meet its long-term liquidity needs, it may have to delay or discontinue the development of one or more programs, discontinue or delay on-going or anticipated clinical trials, license out programs earlier than expected, raise funds at significant discount or on other unfavorable terms, if at all, or sell all or a part of the Company.

(1) NATURE OF BUSINESS AND OVERVIEW

Celldex Therapeutics, Inc. (the "Company" or "Celldex") is a biopharmaceutical company focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other difficult-to-treat diseases. The Company's lead drug candidates include rindopepimut (CDX-110), a targeted immunotherapeutic in a pivotal Phase 3 study for the treatment of front-line glioblastoma and a Phase 2 study for the treatment of recurrent glioblastoma and CDX-011, an antibody-drug conjugate which recently completed a randomized Phase 2b study for the treatment of advanced breast cancer. The Company has additional clinical programs, including CDX-1135, a molecule that inhibits a part of the immune system called the complement system, CDX-1127, a therapeutic human antibody for cancer indications, CDX-301, an immune cell mobilizing agent and dendritic cell growth factor and CDX-1401, an APC Targeting Technology™ program for cancer indications.

At December 31, 2012, the Company had cash, cash equivalents and marketable securities of $84.0 million; working capital of $67.4 million; and a Term Loan balance of $11.3 million. The Company incurred a loss of $59.1 million for the year ended December 31, 2012. Net cash used in operations for the year ended December 31, 2012 was $49.8 million. In January 2013, the Company issued 2,433,608 shares of common stock under the Cantor Amendment and raised $17.1 million in net proceeds. In February 2013, the Company issued 13,800,000 shares of common stock in an underwritten public offering and raised $97.0 million, after deducting underwriting fees and estimated offering expenses. The Company believes that the cash, cash equivalents and marketable securities at December 31, 2012, the $17.1 million raised under the Cantor Amendment in January 2013 and the $97.0 million raised in the underwritten public offering in February 2013 will be sufficient to meet estimated working capital requirements and fund planned operations for at least the next twelve months.

During the next twelve months, the Company may take further steps to raise additional capital to meet its long-term liquidity needs. These capital raising activities may include, but may not be limited to, one or more of the following: the licensing of technology programs with existing or new collaborative partners, possible business combinations, issuance of debt, or the issuance of common stock or other securities via private placements or public offerings. While the Company continues to seek capital through a number of means, there can be no assurance that additional financing will be available on acceptable terms, if at all, and the Company's negotiating position in capital-raising efforts may worsen as existing resources are used. There is also no assurance that the Company will be able to enter into further collaborative relationships. Additional equity financings may be dilutive to the Company's stockholders; debt financing, if available, may involve significant cash payment obligations and covenants that restrict the Company's ability to operate as a business; and licensing or strategic collaborations may result in royalties or other terms which reduce the Company's economic potential from products under development. If the Company is unable to raise the funds necessary to meet its long-term liquidity needs, it may have to delay or discontinue the development of one or more programs, discontinue or delay on-going or anticipated clinical trials, license out programs earlier than expected, raise funds at significant discount or on other unfavorable terms, if at all, or sell all or a part of the Company.