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Celcuity(CELC) - 2024 Q4 - Annual Results
CELCCelcuity(CELC)2025-03-31 20:05

Financial Performance - Net loss for Q4 2024 was 36.7million,or36.7 million, or 0.85 loss per share, compared to a net loss of 18.8million,or18.8 million, or 0.65 loss per share, for Q4 2023[13] - The net loss for the three months ended December 31, 2024, was 36,653,041,comparedtoanetlossof36,653,041, compared to a net loss of 18,848,472 for the same period in 2023, representing a 94.5% increase[22] - The total net loss for the twelve months ended December 31, 2024, was 111,779,105,comparedto111,779,105, compared to 63,779,116 for the same period in 2023, a 75.2% increase[22] - The non-GAAP adjusted net loss for the three months ended December 31, 2024, was 32,271,697,comparedto32,271,697, compared to 17,631,428 for the same period in 2023, indicating an increase of 83.1%[26] - The non-GAAP adjusted net loss per share for the three months ended December 31, 2024, was 0.75,comparedto0.75, compared to 0.61 for the same period in 2023, indicating a 22.9% increase[26] Operating Expenses - Total operating expenses for Q4 2024 were 36.4million,upfrom36.4 million, up from 19.7 million in Q4 2023, representing an increase of 84.5%[7] - General and administrative (G&A) expenses for Q4 2024 were 3.0million,upfrom3.0 million, up from 1.6 million in Q4 2023, an increase of 87.5%[11] - For the three months ended December 31, 2024, the total operating expenses were 36,430,131,a84.836,430,131, a 84.8% increase from 19,729,273 in the same period of 2023[22] Research and Development - Research and development (R&D) expenses for Q4 2024 were 33.5million,comparedto33.5 million, compared to 18.1 million in the prior-year period, reflecting an increase of 85.0%[8] - R&D expenses for the full year 2024 totaled 104.2million,comparedto104.2 million, compared to 60.6 million in 2023, marking an increase of 72.0%[9] - Research and development expenses for the three months ended December 31, 2024, were 33,471,213,upfrom33,471,213, up from 18,081,194 in the same period of 2023, marking an increase of 85.1%[22] Cash and Investments - Cash, cash equivalents, and short-term investments were approximately 235.1millionattheendofQ42024,expectedtofundclinicaldevelopmentactivitiesthrough2026[5]TrialsandClinicalDevelopment−TheVIKTORIA−1Phase3trialisfullyenrolledforthePIK3CAwild−typecohort,withtoplinedataexpectedinQ22025[6]−ThePhase1b/2trialformetastaticcastrationresistantprostatecancerisontracktoreportpreliminarydatainlateQ22025[10]−TheVIKTORIA−2Phase3trialisexpectedtoenrollitsfirstpatientinQ22025,withapproximately200sitesplannedacrossmultipleregions[6]LiabilitiesandShares−Totalliabilitiesincreasedto235.1 million at the end of Q4 2024, expected to fund clinical development activities through 2026[5] Trials and Clinical Development - The VIKTORIA-1 Phase 3 trial is fully enrolled for the PIK3CA wild-type cohort, with topline data expected in Q2 2025[6] - The Phase 1b/2 trial for metastatic castration resistant prostate cancer is on track to report preliminary data in late Q2 2025[10] - The VIKTORIA-2 Phase 3 trial is expected to enroll its first patient in Q2 2025, with approximately 200 sites planned across multiple regions[6] Liabilities and Shares - Total liabilities increased to 129.5 million as of December 31, 2024, compared to 51.5millionattheendof2023[20]−Theweightedaveragecommonsharesoutstanding,basicanddiluted,increasedto42,873,934forthethreemonthsendedDecember31,2024,from28,900,075inthesameperiodof2023,ariseof48.451.5 million at the end of 2023[20] - The weighted average common shares outstanding, basic and diluted, increased to 42,873,934 for the three months ended December 31, 2024, from 28,900,075 in the same period of 2023, a rise of 48.4%[26] Interest Income and Expense - Interest expense for the three months ended December 31, 2024, was 3,275,161, compared to 1,397,247inthesameperiodof2023,reflectinga134.01,397,247 in the same period of 2023, reflecting a 134.0% increase[22] - Interest income for the three months ended December 31, 2024, was 3,052,251, up from $2,278,048 in the same period of 2023, representing an increase of 33.9%[22]