Celcuity Q1 2023 Earnings Report

Celcuity reported financial results for the first quarter of 2023 and provided corporate updates.

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.

EPS

-$0.47

Previous year: -$0.47

+0.0%

Cash and Equivalents

$158M

Previous year: $78.3M

+101.1%

Free Cash Flow

-$12.9M