Celcuity Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Celcuity Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial statement changes and stock transactions.</b>

AI Summary

Celcuity Inc. (CELC) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Celcuity Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key financial statement information for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023, is included. The report details changes in common stock, preferred stock, additional paid-in capital, and retained earnings. It also references specific events related to Series A Convertible Preferred Stock and common stock transactions in January and March 2024.

Why It Matters

For investors and stakeholders tracking Celcuity Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and capital structure details for Celcuity Inc. as of the first quarter of 2024. The specific disclosures on stock transactions, including Series A Convertible Preferred Stock, offer insight into the company's equity financing activities and potential dilution.

Risk Assessment

Risk Level: medium — Celcuity Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, but the lack of specific financial performance metrics (revenue, net income, etc.) in the provided text limits a deeper assessment of the company's operational health and potential risks.

Analyst Insight

Monitor future filings for detailed financial performance data, including revenue growth and profitability, to assess the company's operational trajectory.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-01-01 — Quarter Start Date (Reporting period)
• 2023-03-31 — Prior Year Period End Date (Comparative financial information)
• 2024-01-14 — Transaction Date (Series A Convertible Preferred Stock event)
• 2024-03-13 — Transaction Date (Series A Convertible Preferred Stock event)

Key Players & Entities

• Celcuity Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-15 (date) — Filed as of date
• 10-Q (document) — Form type
• MINNEAPOLIS (location) — Business address city
• DE (location) — State of incorporation
• Series A Convertible Preferred Stock (security) — Specific stock mentioned in transactions
• Several Investors (entity) — Mentioned in relation to stock transactions

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — Latest financial reporting period
• 2024-05-15: Filing Date — Date the report was submitted to the SEC
• 2024-01-14: Series A Convertible Preferred Stock Transaction — Significant equity event
• 2024-03-13: Series A Convertible Preferred Stock Transaction — Significant equity event

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share CELC The Nasdaq

Filing Documents

• form10-q.htm (10-Q) — 629KB
• ex4-3.htm (EX-4.3) — 35KB
• ex4-5.htm (EX-4.5) — 33KB
• ex10-1.htm (EX-10.1) — 6KB
• ex10-2.htm (EX-10.2) — 43KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-019974.txt (&nbsp;) — 3706KB
• celc-20240331.xsd (EX-101.SCH) — 29KB
• celc-20240331_cal.xml (EX-101.CAL) — 43KB
• celc-20240331_def.xml (EX-101.DEF) — 105KB
• celc-20240331_lab.xml (EX-101.LAB) — 296KB
• celc-20240331_pre.xml (EX-101.PRE) — 220KB
• form10-q_htm.xml (XML) — 385KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

ITEM 1. Financial Statements (unaudited) 3 Condensed Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Statements of Operations for the three months ended March 31, 2024 and 2023 4 Condensed Statements of Stockholders' Equity for the three months ended March 31, 2024 5 Condensed Statements of Stockholders' Equity for the three months ended March 31, 2023 6 Condensed Statements of Cash Flows for the three months ended March 31, 2024 and 2023 7 Notes to Unaudited Condensed Financial Statements 8

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

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 22

Controls and Procedures

ITEM 4. Controls and Procedures 22

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 22

Risk Factors

ITEM 1A. Risk Factors 22

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 22

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 22

. Mine Safety Disclosures

ITEM 4 . Mine Safety Disclosures 22

. Other Information

ITEM 5 . Other Information 22

Exhibits

ITEM 6. Exhibits 23

Signatures

Signatures 24 As used in this report, the terms "we," "us," "our," "Celcuity," and the "Company" mean Celcuity Inc., unless the context indicates another meaning. 2 PART I. FINANCIAL INFORMATION ITEM 1. Financial Statements Celcuity Inc. Condensed Balance Sheets March 31, 2024 December 31, 2023 (unaudited) Assets Current Assets: Cash and cash equivalents $ 31,214,741 $ 30,662,774 Investments 146,447,843 149,919,974 Other current assets 9,860,535 10,007,849 Total current assets 187,523,119 190,590,597 Property and equipment, net 306,024 228,782 Operating lease right-of-use assets 351,911 400,019 Total Assets $ 188,181,054 $ 191,219,398 Liabilities and Stockholders' Equity: Current Liabilities: Accounts payable $ 5,276,690 $ 5,076,699 Operating lease liabilities 181,882 184,950 Accrued expenses 11,237,509 8,927,094 Total current liabilities 16,696,081 14,188,743 Operating lease liabilities 182,079 225,922 Note payable, non-current 37,566,230 37,035,411 Total Liabilities 54,444,390 51,450,076 Commitments and Contingencies (Note 5) - - Stockholders' Equity: Preferred stock, $ 0.001 par value: 2,500,000 shares authorized; 505,277 and 854,134 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 505 854 Common stock, $ 0.001 par value: 65,000,000 shares authorized; 30,773,895 and 25,506,012 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 30,774 25,506 Additional paid-in capital 315,393,843 299,818,965 Accumulated deficit ( 181,688,458 ) ( 160,076,003 ) Total Stockholders' Equity 133,736,664 139,769,322 Total Liabilities and Stockholders' Equity $ 188,181,054 $ 191,219,398 See accompanying notes to the financial statements 3 Celcuity Inc. Condensed (unaudited) Three Months Ended March 31, 2024 2023 Operating expenses: Research and development $ 20,6

View Full Filing

View this 10-Q filing on SEC EDGAR