Celcuity Inc · Q3 2022 earnings

Briefing

Reported financial results for the third quarter ended September 30, 2022.

Celcuity reported a net loss of $10.9 million, or $0.75 loss per share, for the third quarter of 2022. Total operating expenses were $10.6 million, with R&D expenses at $9.6 million and G&A expenses at $1.0 million. The company's cash and cash equivalents stood at $57.5 million as of September 30, 2022.

• Completed selection of sites for the Phase 3 VIKTORIA-1 study and focused on activating these sites.
• Updated data from Phase 1b study in advanced breast cancer will be reviewed at the 2022 San Antonio Breast Cancer Symposium in December 2022.
• Dr. Polly Murphy joined the Board of Directors.
• Net cash used in operating activities for the third quarter of 2022 was $9.3 million.

Headline financials

Revenue & EPS history

This press release contains statements that constitute “forward-looking statements” including, but not limited to, the timing of initiating and enrolling patients in, and receiving results from, clinical trials, such as Celcuity’s Phase 3 VIKTORIA-1 clinical trial, the costs and expected results from any ongoing or planned clinical trials, the expected timing of dosing the first patient in VIKTORIA-1, the expected timing of closing the private placement announced May 16, 2022 and funding of tranches under the Company’s debt financing facility, any potential benefits resulting from Breakthrough Therapy designation for gedatolisib, and other expectations with respect to Celcuity’s lead product candidate, gedatolisib and its CELsignia platform.