Celcuity(CELC) - 2025 Q1 - Quarterly Results

Financial Performance - Net loss for Q1 2025 was $37.0 million, or $0.86 loss per share, compared to a net loss of $21.6 million, or $0.64 loss per share in Q1 2024[11]. - Non-GAAP adjusted net loss for Q1 2025 was $34.7 million, or $0.81 loss per share, compared to $19.9 million, or $0.59 loss per share in Q1 2024[11][23]. - GAAP net loss for Q1 2025 was $36.997 million, compared to a loss of $21.612 million in Q1 2024, representing a 71.2% increase in losses year-over-year[25]. - Non-GAAP adjusted net loss for Q1 2025 was $34.699 million, up from $19.904 million in Q1 2024, indicating a 74.5% increase in adjusted losses[25]. - GAAP net loss per share for Q1 2025 was $0.86, compared to $0.64 per share in Q1 2024, reflecting a 34.4% increase in loss per share[25]. - Non-GAAP adjusted net loss per share for Q1 2025 was $0.81, compared to $0.59 per share in Q1 2024, showing a 37.3% increase in adjusted loss per share[25]. Operating Expenses - Total operating expenses for Q1 2025 were $36.1 million, up from $22.5 million in Q1 2024, representing a 60% increase[8]. - Research and development expenses increased to $32.2 million in Q1 2025 from $20.6 million in Q1 2024, a rise of approximately 56%[9]. - Net cash used in operating activities for Q1 2025 was $35.9 million, compared to $17.1 million in Q1 2024[13]. Assets and Cash Position - Cash, cash equivalents, and investments totaled approximately $206 million as of March 31, 2025, expected to fund clinical development through 2026[5][13]. - Total current assets decreased to $217.6 million as of March 31, 2025, from $244.6 million at the end of 2024[19]. Clinical Trials - The topline data for the PIK3CA wild-type cohort of the VIKTORIA-1 trial is anticipated in Q3 2025, with the primary completion date projected for June 2025[5][6]. - Enrollment is ongoing in the PIK3CA mutant cohort of the VIKTORIA-1 trial, with topline data expected in Q4 2025[5][6]. - The VIKTORIA-2 Phase 3 trial is on track to dose its first patient in Q2 2025[5][6]. Shareholder Information - Weighted average common shares outstanding increased to 43,052,757 in Q1 2025 from 33,612,054 in Q1 2024, a growth of 28.0%[25].