Celldex Announces Exercise of Underwriters' Option to Purchase Additional Shares

Celldex Announces Exercise of Underwriters' Option to Purchase Additional

Celldex proceeds from offering total $191.4 million gross; $181.9 million net

HAMPTON, N.J., Dec. 9, 2013 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc.
(Nasdaq:CLDX) today announced that the underwriters of its previously
announced public offering of common stock have exercised in full their option
to purchase an additional 1,050,000 additional shares of common stock at the
public offering price of $24.50. Proceeds to Celldex from the exercise of the
underwriters' option will be approximately $18.9 million, after deducting
underwriting discounts and commissions and proceeds to a limited number of
selling stockholders. 813,483 shares sold pursuant to the exercise of the
option were sold by Celldex and 236,517 shares were sold by selling
stockholders. The offering is expected to close on or about December 10, 2013,
subject to customary closing conditions.

Jefferies LLC and Leerink Swann LLC are acting as joint book-running managers
of the offering. Guggenheim Securities, Oppenheimer & Co. Inc., Wedbush
PacGrow Life Sciences, Brean Capital, LLC, Cantor Fitzgerald & Co. and Roth
Capital Partners 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. The 236,517 shares sold by selling stockholders
relate to stock options held by one officer and three directors, which stock
options would otherwise have expired within the next 15 months. A shelf
registration statement relating to the shares was filed with the SEC and is
effective. A final prospectus supplement related to the offering has also been
filed and is available on the SEC's website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying prospectus
relating to this offering may be obtained from Jefferies LLC, 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 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 is developing targeted therapeutics to address devastating diseases
for which available treatments are inadequate. Our pipeline is built from a
proprietary portfolio of antibodies and immunomodulators used alone and in
strategic combinations to create novel, disease-specific therapies that
induce, enhance or suppress the body's immune response.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995: This release contains "forward-looking statements" made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995, including those related to the Company's strategic focus and the future
development and commercialization (by Celldex and others) of rindopepimut
(CDX-110), glembatumumab vedotin ("glemba"; CDX-011), CDX-1135, CDX-1401,
CDX-1127, CDX-301, Belinostat and other products. Forward-looking statements
reflect management's current knowledge, assumptions, judgment and expectations
regarding future performance or events. Although management believes that the
expectations reflected in such statements are reasonable, they give no
assurance that such expectations will prove to be correct and you should be
aware that actual results could differ materially from those contained in the
forward-looking statements. Forward-looking statements are subject to a number
of risks and uncertainties, including, but not limited to, our ability to
successfully complete research and further development and commercialization
of rindopepimut, glembatumumab vedotin and other drug candidates, our ability
to obtain additional capital to meet our long-term liquidity needs on
acceptable terms, or at all, including the additional capital which will be
necessary to complete the clinical trials that we have initiated or plan to
initiate; our ability to adapt our APC Targeting Technology^TM to develop new,
safe and effective vaccines against oncology and infectious disease
indications; our ability to successfully complete product research and further
development of our programs; the uncertainties inherent in clinical testing;
our limited experience in bringing programs through Phase 3 clinical trials;
our ability to manage research and development efforts for multiple products
at varying stages of development; the timing, cost and uncertainty of
obtaining regulatory approvals; the failure of the market for the Company's
programs to continue to develop; our ability to protect the Company's
intellectual property; the loss of any executive officers or key personnel or
consultants; competition; changes in the regulatory landscape or the
imposition of regulations that affect the Company's products; and other
factors listed under "Risk Factors" in our annual report on Form 10-K.

All forward-looking statements are expressly qualified in their entirety by
this cautionary notice. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date of this release.
We have no obligation, and expressly disclaim any obligation, to update,
revise or correct any of the forward-looking statements, whether as a result
of new information, future events or otherwise.

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