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Mar 31, 2021
Celcuity Q1 2021 Earnings Report
Celcuity reported financial results for the first quarter ended March 31, 2021, and provided a corporate update.
Key Takeaways
Celcuity reported a net loss of $2.79 million for the first quarter of 2021, compared to a net loss of $2.25 million for the first quarter of 2020. The company's cash and cash equivalents were $34.9 million as of March 31, 2021, compared to $11.6 million at December 31, 2020. Celcuity entered into a global licensing agreement with Pfizer to develop and commercialize gedatolisib.
Entered into a worldwide licensing agreement with Pfizer to develop and commercialize gedatolisib.
Announced encouraging preliminary data from a Phase 1b trial of gedatolisib plus Ibrance® and endocrine therapy.
Secured additional financing to strengthen cash position and provide funding for expanded clinical development activities.
Entered into clinical trial collaboration agreements with leading cancer research centers, Novartis, Pfizer, and Puma to evaluate the efficacy of targeted therapies.
Celcuity
Celcuity
Forward Guidance
Celcuity anticipates several milestones over the next twelve months, including additional clinical trial collaborations and the initiation of a Phase 2/3 clinical trial for gedatolisib in breast cancer.
Positive Outlook
- Announce additional clinical trial collaborations in the first half of 2021 utilizing the CELsignia platform.
- Initiate Phase 2/3 clinical trial for gedatolisib in breast cancer in the first half of 2022 pending discussions with the FDA regarding the clinical development pathway.
- Provide interim results from the FACT-1 and FACT-2 trials in late 2021 or early 2022.