$CELC

Celcuity Inc.

CIK:0001603454|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 31,077	$ 36,415	$ 64,140	$ 66,174
Selling, general and administrative	35,041	7,594	52,485	13,968
Total operating expenses	66,118	44,009	116,625	80,142
Loss from operations	(66,118)	(44,009)	(116,625)	(80,142)
Other (expense) income:
Interest expense	(5,423)	(3,204)	(11,508)	(6,387)
Interest income	4,154	1,945	7,905	4,264
Loss on debt extinguishment	(11,477)		(11,477)
Other expense, net	(12,746)	(1,259)	(15,080)	(2,123)
Net loss before income taxes	(78,864)	(45,268)	(131,705)	(82,265)
Income taxes
Net loss	$ (78,864)	$ (45,268)	$ (131,705)	$ (82,265)
Net loss per share, basic	$ (1.44)	$ (1.04)	$ (2.41)	$ (1.9)
Net loss per share, diluted	$ (1.44)	$ (1.04)	$ (2.41)	$ (1.9)
Weighted average common shares outstanding, basic	54,816,437	43,663,364	54,640,608	43,359,748
Weighted average common shares outstanding, diluted	54,816,437	43,663,364	54,640,608	43,359,748

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (131,705)	$ (82,265)
Adjustments to reconcile net loss to net cash and cash equivalents used in operations:
Depreciation	106	77
Stock-based compensation	12,229	5,148
Amortization of debt issuance costs and discount	2,466	1,088
Payment-in-kind interest	582	501
Non-cash investment (income) expense	(551)	340
Non-cash operating lease expense	62	(2)
Loss on debt extinguishment	11,477
Changes in operating assets and liabilities:
Prepaid clinical trial costs	5,900	(4,634)
Other current assets	(3,555)	(617)
Accounts payable	1,804	1,840
Accrued clinical trial costs	(8,884)	4,277
Accrued license milestone	(5,000)
Other accrued expenses	4,578	2,182
Net cash used in operating activities	(110,491)	(72,065)
Cash flows from investing activities:
Proceeds from maturities of investments	165,000	196,738
Purchases of investments	(460,650)	(106,521)
Purchases of property and equipment	(300)	(99)
Purchases of capitalized software	(121)
Net cash provided by (used in) investing activities	(296,071)	90,118
Cash flows from financing activities:
Proceeds from employee stock purchases	798	253
Proceeds from exercise of common stock options	1,883	20
Proceeds from exercise of common stock warrants	31	5,600
Proceeds from convertible notes, net of debt issuance costs of $17,584 and $0 during the six months ended June 30, 2026 and 2025, respectively	557,416
Repayment of note payable	(137,017)
Payments for debt issuance costs		(40)
Payments for secondary registration statement costs	(203)	(47)
Net cash provided by financing activities	422,908	5,786
Net change in cash and cash equivalents	16,346	23,839
Cash and cash equivalents:
Beginning of period	165,703	22,515
End of period	182,049	46,354
Supplemental disclosure of cash flow information:
Cash paid for interest	9,441	4,799
Cash paid for operating leases	74	109
Supplemental disclosures of non-cash investing and financing activities:
Purchase of intangible assets in accrued license milestone	50,000
Conversion of Term A Loan to shares of common stock	3,368
Right-of-use asset obtained in exchange for operating lease liability	1,150
Debt issuance costs included in other accrued expenses	172
Exercise of common stock options pending receipt of cash proceeds	60	0
Secondary registration statement costs included in accounts payable		47
Property and equipment included in accounts payable		$ 1

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 182,049	$ 165,703
Investments	571,995	275,794
Prepaid clinical trial costs	12,996	18,896
Other current assets	8,801	5,266
Total current assets	775,841	465,659
Property and equipment, net	611	499
Intangible assets, net	50,000
Operating lease right-of-use assets	1,107	51
Other non-current assets	661	349
Total assets	828,220	466,558
Current liabilities:
Accounts payable	8,093	6,407
Accrued clinical trial costs	7,942	16,826
Accrued license milestone	50,000	5,000
Other accrued expenses	20,581	15,865
Operating lease liabilities, current	257	54
Total current liabilities	86,873	44,152
Operating lease liabilities, non-current	893
Convertible notes	753,235	195,324
Note payable		126,527
Total liabilities	841,001	366,003
Commitments and contingencies (Note 6)
Stockholders' equity (deficit):
Preferred stock, $0.001 par value; 2,500,000 shares authorized as of June 30, 2026, and December 31, 2025; 0 shares issued and outstanding as of June 30, 2026, and December 31, 2025
Common stock, $0.001 par value; 95,000,000 shares authorized as of June 30, 2026, and December 31, 2025; 48,922,556 and 48,244,960 shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively	49	48
Additional paid-in capital	567,772	549,404
Accumulated deficit	(580,602)	(448,897)
Total stockholders' equity (deficit)	(12,781)	100,555
Total liabilities and stockholders' equity (deficit)	$ 828,220	$ 466,558