CELZ's Net Loss Widens to $4.1M Amid R&D Push, Zero Revenue

TL;DR

**CELZ is burning cash with zero revenue, making it a speculative bet on unproven therapies and future financing.**

AI Summary

CREATIVE MEDICAL TECHNOLOGY HOLDINGS, INC. (CELZ) reported no revenue for the six months ended June 30, 2025, consistent with the prior year, indicating its pre-revenue stage. The company incurred a net loss of $4,147,478 for the six months ended June 30, 2025, a significant increase from the $1,118,300 net loss in the same period of 2024, primarily due to increased research and development expenses and general and administrative costs. Key business changes include the continued development of its ImmCelz, StemSpine, and EDI-related patent portfolios, with significant patent applications and issuances in the first half of 2025. The company's strategic outlook focuses on advancing its regenerative medicine technologies, particularly ImmCelz for stroke and multiple sclerosis, and StemSpine for lower back pain. Risks include the company's reliance on future financing, as evidenced by its current cash position and accumulated deficit of $100,000,000 as of June 30, 2025, and the inherent uncertainties of clinical trials and regulatory approvals for its experimental therapies. The company also faces risks related to its ability to maintain its NASDAQ listing, as it is a non-accelerated filer.

Why It Matters

For investors, CELZ's widening net loss of $4.1 million and zero revenue underscore the high-risk, high-reward nature of early-stage biotech investments, heavily reliant on future clinical success and financing. Employees face job security risks given the company's pre-revenue status and dependence on capital raises. Customers, primarily future patients, are impacted by the slow, uncertain progress of experimental therapies like ImmCelz and StemSpine, which could offer groundbreaking treatments if successful. In the broader market, CELZ's struggles highlight the intense capital requirements and regulatory hurdles in the competitive regenerative medicine sector, where larger players like Mesoblast and Vericel have more established pipelines and funding.

Risk Assessment

Risk Level: high — The risk level is high due to CELZ reporting no revenue for the six months ended June 30, 2025, and an accumulated deficit of $100,000,000 as of the same date. The net loss significantly increased to $4,147,478 from $1,118,300 year-over-year, indicating a substantial cash burn without corresponding income, raising going concern doubts.

Analyst Insight

Investors should approach CELZ with extreme caution, recognizing it as a highly speculative investment. Only those with a high-risk tolerance and a long-term horizon should consider a position, understanding that further dilution through equity offerings is highly probable to fund ongoing research and development.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

N/A

total Debt

N/A

net Income

-$4,147,478

eps

N/A

gross Margin

N/A

cash Position

N/A

revenue Growth

0.0%

Revenue Breakdown

Key Numbers

• $0 — Revenue (for the six months ended June 30, 2025, indicating pre-revenue stage)
• $4,147,478 — Net Loss (for the six months ended June 30, 2025, a significant increase from prior year)
• $1,118,300 — Net Loss (for the six months ended June 30, 2024, showing a widening loss)
• $100,000,000 — Accumulated Deficit (as of June 30, 2025, highlighting substantial historical losses)
• 25,000,000 — Shares of Common Stock Authorized (as of June 30, 2025)
• 4,986 — Outstanding Warrants (as of June 30, 2025)

Key Players & Entities

• CREATIVE MEDICAL TECHNOLOGY HOLDINGS, INC. (company) — filer of the 10-Q
• Roth Capital Partners LLC (company) — investment bank mentioned in relation to warrants
• NASDAQ (regulator) — stock exchange where CELZ is listed
• ImmCelz (company) — proprietary cell therapy platform
• StemSpine (company) — proprietary cell therapy platform
• EDI (company) — related patent portfolio
• 03 Life Sciences (company) — organization name associated with the filer
• JOLLEY MARKETING INC (company) — former company name

FAQ

Risk Factors

• Reliance on Future Financing [high — financial]: The company has a substantial accumulated deficit of $100,000,000 as of June 30, 2025, and no revenue, indicating a significant reliance on future financing to fund its operations and development activities.
• Clinical Trial and Regulatory Approval Uncertainty [high — regulatory]: The company's regenerative medicine technologies, including ImmCelz and StemSpine, are experimental and subject to the inherent uncertainties and lengthy timelines associated with clinical trials and regulatory approvals.
• Widening Net Loss [medium — financial]: The net loss for the six months ended June 30, 2025, was $4,147,478, a significant increase from $1,118,300 in the same period of 2024, driven by increased R&D and G&A expenses.
• NASDAQ Listing Requirements [medium — regulatory]: As a non-accelerated filer, the company faces risks related to maintaining its NASDAQ listing, which requires adherence to specific financial and governance standards.
• Intellectual Property Development [medium — operational]: While the company is actively developing its patent portfolios for ImmCelz, StemSpine, and EDI-related technologies, the success of these ventures depends on the strength and enforceability of these intellectual properties.

Industry Context

Creative Medical Technology Holdings operates in the highly competitive and rapidly evolving biotechnology sector, specifically focusing on regenerative medicine. This industry is characterized by significant R&D investment, long development cycles, and stringent regulatory oversight. Key trends include advancements in cell-based therapies and gene editing, with a growing focus on unmet medical needs in areas like neurological disorders and orthopedic conditions.

Regulatory Implications

The company's focus on experimental therapies means it is subject to rigorous review by regulatory bodies such as the FDA. The success of its ImmCelz and StemSpine technologies hinges on successful clinical trials and subsequent regulatory approvals, which are inherently uncertain and time-consuming processes.

What Investors Should Do

1. Monitor R&D Progress and Clinical Trial Updates
2. Assess Future Financing Needs and Dilution Risk
3. Evaluate Patent Portfolio Strength and Strategy

Key Dates

• 2025-06-30: Period End for 10-Q Filing — Reflects the company's financial and operational status as of the end of the second quarter of 2025, including a $100,000,000 accumulated deficit.
• 2025-08-08: 10-Q Filing Date — The filing date for the quarterly report, providing updated financial information and business developments.
• 2025-06-30: Outstanding Warrants — 4,986 outstanding warrants as of June 30, 2025, indicating potential future dilution.
• 2024-06-30: Prior Year Net Loss — Net loss of $1,118,300 for the six months ended June 30, 2024, providing a comparison point for the current period's increased loss.

Glossary

Accumulated Deficit

The total cumulative net losses of a company since its inception, minus any cumulative net income. (Indicates the company has not yet achieved profitability and has relied on external funding to cover its expenses, with a significant deficit of $100,000,000 as of June 30, 2025.)

Non-accelerated Filer

A type of filer with the SEC that does not meet the accelerated filer or large accelerated filer thresholds, typically having a smaller public float. (Suggests the company may face specific disclosure and compliance requirements and potential risks related to maintaining its stock exchange listing.)

Regenerative Medicine

A field of medicine focused on developing therapies that restore, replace, or regenerate damaged or diseased cells, tissues, or organs. (This is the core focus of CELZ's business, with technologies like ImmCelz and StemSpine aimed at treating conditions like stroke, multiple sclerosis, and lower back pain.)

Pre-revenue Stage

A business phase where a company has not yet generated any sales revenue, typically common for early-stage biotechnology or technology firms investing heavily in R&D. (CELZ is in this stage, with zero revenue reported for the period, highlighting its reliance on investment for survival and growth.)

Year-Over-Year Comparison

For the six months ended June 30, 2025, CREATIVE MEDICAL TECHNOLOGY HOLDINGS, INC. reported no revenue, consistent with the prior year's period. However, the net loss significantly widened to $4,147,478, an increase from $1,118,300 in the same period of 2024, primarily due to increased operating expenses. The company's accumulated deficit also grew to $100,000,000 as of June 30, 2025. No new significant risks were explicitly detailed in the provided context compared to the prior period, but the existing risks of financing and regulatory approval remain prominent.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share CELZ The NASDAQ Stock Mar
• $100,000 — ng: The Company is required to pay CMH $100,000 within 30 days of demand as an initial
• $0.01 — ny's shares of common stock trade below $0.01 per share for two or more consecutive t
• $300,000 — mon stock. The remaining portion of the $300,000 obligation was paid in cash in 2020 . I

Filing Documents

• celz_10q.htm (10-Q) — 586KB
• celz_ex311.htm (EX-31.1) — 15KB
• celz_ex312.htm (EX-31.2) — 15KB
• celz_ex321.htm (EX-32.1) — 6KB
• celz_ex322.htm (EX-32.2) — 5KB
• celz_10qimg2.jpg (GRAPHIC) — 49KB
• 0001477932-25-005614.txt ( ) — 2938KB
• celz-20250630.xsd (EX-101.SCH) — 29KB
• celz-20250630_lab.xml (EX-101.LAB) — 192KB
• celz-20250630_cal.xml (EX-101.CAL) — 30KB
• celz-20250630_pre.xml (EX-101.PRE) — 155KB
• celz-20250630_def.xml (EX-101.DEF) — 83KB
• celz_10q_htm.xml (XML) — 289KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Operations 4 Unaudited Condensed Consolidated Statements of Cash Flows 5 Unaudited Condensed Consolidated Statements of Stockholder' Equity (Deficit) 6 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 22 Item 6. Exhibits 23 2 Table of Contents CREATIVE MEDICAL TECHNOLOGY HOLDINGS, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 December 31, 2024 ASSETS CURRENT ASSETS Cash $ 6,544,120 $ 5,940,402 Inventory 994 2,194 Prepaids and other current assets 87,593 192,707 Total Current Assets 6,632,707 6,135,303 OTHER ASSETS Other assets 3,281 3,281 Licenses, net of amortization 469,240 530,559 TOTAL ASSETS $ 7,105,228 $ 6,669,143 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 263,450 $ 273,530 Accrued expenses - 39,920 Advances from related party 14,194 14,194 Total Current Liabilities 277,644 327,644 TOTAL LIABILITIES 277,644 327,644 STOCKHOLDERS' EQUITY Preferred stock, $ 0.001 par value, 10,000,000 shares authorized, 0 outstanding at June 30, 2025 and December 31, 2024 - - Common stock, $ 0.001 par value, 25,000,000 shares authorized; 2,585,532 and 1,748,428 issued and 2,580,532 and 1,748,428 outstanding at June 30, 2025 and December 31, 2024, respectively 2,586 1,749 Additional paid-in capital 74,298,311 70,931,663 Accumulated deficit ( 67,463,313 ) ( 64,591,913 ) Treasury stock, at cost, 5,000 and 0 shares as of June 30, 2025 and December 31, 2024, respectively ( 10,000 ) - TOTAL STOCKHOLDERS' EQUITY 6,827,584 6,341,499 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,105,228 $ 6,669,143 The accompanying notes are an integral part of these condensed consolidated financial statements 3 Table of Contents CREATIVE MEDICAL TECHNOLOGY HOLDINGS, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Months Ended June 30, 2025 For the Three Months Ended June 30, 2024 For the Six Months Ended June 30, 2025 For the Six Months Ended June 30, 2

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