Why Celldex Therapeutics Jumped Higher Today

Celldex Therapeutics, Inc. (NASDAQ: CLDX) is up 16% at 12:04 p.m. EST after releasing third-quarter earnings this morning, although the stock move likely has more to do with data released in conjunction with earnings than the biotech's revenue or earnings themselves.

For the record, revenue was $3.9 million, and Celldex lost $26.4 million during the third quarter. Importantly, the company ended the quarter with $140.5 million in the bank, which, combined with the $11.3 million it raised in October, is enough to get Celldex through 2018.

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Source: Fool.com