Celcuity Q4 2020 Earnings Report
Key Takeaways
Celcuity Inc. reported a net loss of $2.55 million for the fourth quarter of 2020, compared to a net loss of $1.81 million for the fourth quarter of 2019. The company's operating expenses were $2.55 million, up from $1.90 million in the same quarter of the previous year. Celcuity had cash and cash equivalents of $11.6 million as of December 31, 2020.
Announced clinical trial collaborations with Massachusetts General Hospital, UCLA, Vanderbilt, Puma Biotechnology, Sarah Cannon Research Institute, and Pfizer Inc.
Total operating expenses were $2.55 million for the fourth quarter of 2020, compared to $1.90 million for the fourth quarter of 2019.
Net loss for the fourth quarter of 2020 was $2.55 million, or $0.25 per share, compared to a net loss of $1.81 million, or $0.18 per share, for the fourth quarter of 2019.
At December 31, 2020, Celcuity had cash and cash equivalents of $11.6 million, compared to cash and cash equivalents of $18.7 million at December 31, 2019.
Celcuity
Celcuity
Forward Guidance
Celcuity anticipates announcing additional clinical trial collaborations in the first half of 2021 and expects interim results from the FACT-1 and FACT-2 trials in late 2021 or early 2022.
Positive Outlook
- Expect to announce additional clinical trial collaborations in the first half of 2021.
- Continue to develop CELsignia RAS test for breast and ovarian cancers, and plan to report data on these new tests in the first half of 2021.
- Interim results from the FACT-1 and FACT-2 trials are expected in late 2021 or early 2022.
Challenges Ahead
- The COVID-19 pandemic has impacted Celcuity's business and results of operations.