Celcuity Q1 2023 Earnings Report
Key Takeaways
Celcuity's total operating expenses were $12.5 million, with R&D expenses at $11.3 million and G&A expenses at $1.3 million. The net loss was $11.9 million, or $0.55 loss per share. Non-GAAP adjusted net loss was $10.2 million, or $0.47 loss per share. The company had cash, cash equivalents, and short-term investments of $157.5 million at the end of the quarter.
VIKTORIA-1 Phase 3 clinical trial enrollment is on track to deliver initial data in the second half of 2024.
Updated median progression free survival (mPFS) data for treatment-naïve HR+/HER2- advanced breast cancer patients presented at the ESMO Breast Cancer Congress showed a mPFS of 48.6 months.
Findings from nonclinical studies presented at ASCO-GU and AACR highlight the benefit of inhibiting all Class I PI3K isoforms and MTOR1/MTORC2.
Total operating expenses were $12.5 million for the first quarter of 2023.