Celcuity Inc. Reports First Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - Celcuity Inc. reported financial results for Q1 2025, highlighting progress in its clinical pipeline and upcoming data readouts [1][2] Business Highlights - The company anticipates topline data for the PIK3CA wild-type cohort of the VIKTORIA-1 trial in Q3 2025 and for the PIK3CA mutant cohort in Q4 2025 [2][5] - A clinical trial collaboration is being initiated with Dana Farber Cancer Institute and Massachusetts General Hospital to evaluate gedatolisib in combination with other therapies for endometrial cancer [5][6] Financial Results - Total operating expenses for Q1 2025 were $36.1 million, up from $22.5 million in Q1 2024 [7] - Research and development expenses increased to $32.2 million from $20.6 million year-over-year, with a significant portion attributed to employee and consulting costs [8] - General and administrative expenses rose to $3.9 million from $1.8 million, driven by increased employee and consulting expenses [9] Net Loss - The 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 [10] - 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 the prior year [10][21] Cash Position - As of March 31, 2025, the company reported approximately $206 million in cash, cash equivalents, and investments, expected to fund clinical development activities through 2026 [11]