Celularity Inc. Q3 2024 Update: Agreements and Financials

TL;DR

Celularity's Q3 2024 10-Q shows progress on deals like Pulthera LLC and Biocellgraft, with key financial figures updated.

AI Summary

Celularity Inc. reported its third-quarter financial results for the period ending September 30, 2024. The company's filing details various business activities, including agreements like the License Agreement with Biocellgraft Inc. and the Pulthera LLC Binding Term Sheet. Financial information such as Additional Paid In Capital and Retained Earnings are also presented.

Why It Matters

This filing provides insight into Celularity's ongoing business development and financial health, which can impact investors and the broader cell therapy market.

Risk Assessment

Risk Level: medium — The company operates in the highly regulated and competitive pharmaceutical sector, with significant financial reporting details that warrant careful review.

Key Numbers

• 0.1 — Fiscal Year End (Indicates the company's fiscal year ends on December 31st.)

Key Players & Entities

• Celularity Inc. (company) — Filer of the 10-Q report
• GX Acquisition Corp. (company) — Former company name
• Biocellgraft Inc. (company) — Party to a license agreement
• Pulthera LLC (company) — Party to a binding term sheet
• 20240930 (date) — End of the reporting period

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 per share CELU The Nasdaq Stock Mar
• $115 — A Common Stock at an exercise price of $115 per share CELUW The Nasdaq Stock Ma

Filing Documents

• celu-20240930.htm (10-Q) — 3528KB
• celu-ex31_1.htm (EX-31.1) — 17KB
• celu-ex31_2.htm (EX-31.2) — 17KB
• celu-ex32_1.htm (EX-32.1) — 11KB
• celu-ex32_2.htm (EX-32.2) — 11KB
• 0000950170-24-133799.txt ( ) — 16868KB
• celu-20240930.xsd (EX-101.SCH) — 2509KB
• celu-20240930_htm.xml (XML) — 3376KB

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Consolidated Statements of Stockholders' Equity 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 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 37 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 49 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 51 Item 1A.

Risk Factors

Risk Factors 51 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52 Item 6. Exhibits 52

Signatures

Signatures 54 Unless the context indicates otherwise, references in this quarterly report to the "Company," "Celularity," "we," "us," "our" and similar terms refer to Celularity Inc. and its consolidated subsidiaries. The Celularity logo, Celularity IMPACT, Biovance, Interfyl, Lifebank, CentaFlex and other trademarks or service marks of Celularity Inc. appearing in this quarterly report are the property of Celularity Inc. This quarterly report on Form 10-Q also contains registered marks, trademarks and trade names of other companies. All other trademarks, registered marks and trade names appearing herein are the property of their respective holders On February 28, 2024, we effected a 1-for-10 reverse stock split of our outstanding shares of Class A common stock. Unless specifically provided otherwise herein, all share and per share information in this quarterly report on Form 10-Q has been adjusted to reflect the reverse stock split. i SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Some of the statements contained in this quarterly report on Form 10-Q, including the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations," constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These statements relate to our future events, including our anticipated operations, research, development and commercialization activities, clinical trials, operating results and financial condition. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materia

—FINANCI AL INFORMATION

PART I—FINANCI AL INFORMATION

. Financial Statements

Item 1 . Financial Statements. Celularity Inc. Condensed Consolida ted Balance Sheets (In thousands, except share and per share amounts) September 30, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 133 $ 227 Accounts receivable, net of allowance of $ 6,059 and $ 5,837 as of September 30, 2024 and December 31, 2023, respectively 8,770 10,046 Notes receivable - 2,072 Inventory 3,963 5,753 Prepaid expenses and other current assets 1,636 1,695 Total current assets 14,502 19,793 Property and equipment, net 63,208 67,828 Goodwill 7,347 7,347 Intangible assets, net 9,624 11,001 Right-of-use assets - operating leases 10,865 10,990 Restricted cash 10,163 9,936 Inventory, net of current portion 12,844 16,657 Other long-term assets 287 337 Total assets $ 128,840 $ 143,889 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 15,400 $ 14,144 Accrued expenses and other current liabilities 14,466 7,580 Accrued R&D software - 3,500 Short-term debt - unaffiliated (includes debt measured at fair value of $ 3,695 at September 30, 2024 and $ 17,223 at December 31, 2023, respectively) 3,695 19,331 Short-term debt - related parties 38,915 19,909 Deferred revenue 3,693 2,834 Total current liabilities 76,169 67,298 Deferred revenue, net of current portion 2,639 3,186 Acquisition-related contingent consideration 1,606 1,606 Noncurrent lease liabilities - operating 26,451 26,177 Warrant liabilities 4,403 4,359 Deferred income tax liabilities 9 9 Other liabilities 283 294 Total liabilities 111,560 102,929 Commitments and contingencies (Note 9) Stockholders' equity Preferred stock, $ 0.0001 par value, 10,000,000 shares authorized, none issued and outstanding at September 30, 2024 and December 31, 2023 - - Common Stock, $ 0.

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View this 10-Q filing on SEC EDGAR