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Exhibit 12.1

CELLDEX PHARMACEUTICALS, INC.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

				Year Ended December 31,
	Nine Months Ended September 30, 2013
				2012			2011			2010			2009			2008
				(In thousands)
Loss from continuing operations before taxes	$	(59,328	)	$	(58,077	)	$	(43,399	)	$	(6,455	)	$	(36,850	)	$	(48,756	)
Fixed Charges:
Interest expensed and amortization of debt discount		842			1,576			1,796			1,337			452			156
Estimate of interest within rental expense(2)		661			838			841			821			825			726
Total fixed charges		1,503			2,414			2,637			2,158			1,277			882
Loss as defined for ratio to fixed charges	$	(57,825	)	$	(55,663	)	$	(40,762	)	$	(4,297	)	$	(35,573	)	$	(47,874	)
Ratio of earnings to fixed charges			(1)			(1)			(1)			(1)			(1)			(1)

(1)

Due to the Company's loss from continuing operations for the nine months ended September 30, 2013 and the years ended December 31, 2012, 2011, 2010, 2009 and 2008 earnings were insufficient to cover fixed charges by $59.3 million, $58.1 million, $43.4 million, $6.5 million, $36.9 million, and $48.8 million, respectively.

(2)

Interest component on rentals estimated to be one-third of rentals.

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Exhibit 12.1