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Celldex raises $40M to fund Phase III glio trials

This article was originally published in Scrip

Executive Summary

After burning $17.9 million in cash during the second half of 2011, Celldex Therapeutics Inc. will raise $40.4 million in a public offering this week to run clinical trials and fund its business operations into 2014. Net proceeds of $37.7 million will fund Phase III clinical trials for the company's lead candidate rindopepimut in front-line and recurrent glioblastoma and advance earlier stage programmes

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