Celldex Announces Pricing of $90 Million Public Offering of Common Stock

Celldex Announces Pricing of $90 Million Public Offering of Common Stock

NEEDHAM, Mass., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc.
(Nasdaq:CLDX) today announced the pricing of an underwritten public offering
of 12,000,000 shares of its common stock, offered at a price to the public of
$7.50 per share for an aggregate offering of $90,000,000 of common stock. The
proceeds to Celldex from this offering are expected to be approximately
$84,345,000, after deducting underwriting discounts and commissions and other
estimated offering expenses payable by Celldex. Celldex has granted the
underwriters a 30-day option to purchase up to an aggregate of 1,800,000
additional shares of common stock. All of the shares in the offering are to be
sold by Celldex. The offering is expected to close on or about February 11,
2013, subject to customary closing conditions.

Jefferies & Company, Inc. and Leerink Swann LLC are acting as joint
book-running managers of the offering. Oppenheimer & Co., Wedbush PacGrow Life
Sciences, Brean Capital and Roth Capital Partners, LLC are acting as
co-managers of the offering.

Celldex anticipates using the net proceeds from the offering to fund Celldex's
clinical trials of its product candidates and for working capital and other
general corporate purposes.

A shelf registration statement on Form S-3 relating to the shares was filed
with the Securities and Exchange Commission (SEC) and is effective. A
preliminary prospectus supplement related to the offering has been filed with
the SEC and is available on the SEC's website located at http://www.sec.gov.
Copies of the final prospectus supplement relating to these securities, when
available, may be obtained from Jefferies & Company, Inc., Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY,
10022, by telephone at 877-547-6340 or by email at
Prospectus_Department@Jefferies.com or from Leerink Swann LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by
telephone at 1-800-808-7525 or by email at Syndicate@Leerink.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other

About Celldex Therapeutics, Inc.

Celldex Therapeutics is the first antibody-based combination immunotherapy
company. Celldex has a pipeline of drug candidates in development for the
treatment of cancer and other difficult-to-treat diseases based on its
antibody focused Precision Targeted Immunotherapy (PTI) Platform. The PTI
Platform is a complementary portfolio of monoclonal antibodies,
antibody-targeted vaccines and immunomodulators used in optimal combinations
to create novel disease-specific drug candidates.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995: This announcement contains "forward-looking statements" such as those,
among others, relating to Celldex's expectations regarding the completion and
timing of the closing of the public offering and its anticipated use of net
proceeds from the offering. These statements are subject to significant risks
and uncertainties; actual results could differ materially from those projected
and Celldex cautions investors not to place undue reliance on the
forward-looking statements contained in this release. These risks and
uncertainties include, without limitation, risks and uncertainties related to
market conditions and satisfaction of customary closing conditions related to
the public offering. There can be no assurance that Celldex will be able to
complete the public offering on the anticipated terms, or at all. Risks and
uncertainties relating to Celldex and its business can be found in the "Risk
Factors" section of Celldex's Form 10-K, filed with the SEC on March 8, 2012,
and in the preliminary prospectus supplement and related prospectus relating
to the proposed offering filed with the SEC on February 4, 2013. Celldex
undertakes no duty or obligation to update any forward-looking statements
contained in this release as a result of new information, future events or
changes in Celldex's expectations.

CONTACT: Sarah Cavanaugh
         Vice President of IR & Corp Communications
         Celldex Therapeutics, Inc.
         (781) 433-3161
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