Celcuity Announces Upsized Senior Secured Term Loan Facility of $500 Million with Innovatus Capital Partners and Oxford Finance

Core Viewpoint - Celcuity Inc. has amended its senior secured credit facility, increasing the total term loan facility size to $500 million, which enhances its financial flexibility and supports its strategic initiatives in oncology [1][2]. Group 1: Credit Facility Details - The amended credit facility includes $350 million in committed capital and up to $150 million available at the mutual discretion of Celcuity and its lenders [1]. - The initial funding under the amended credit facility was $30 million, bringing the total term loan outstanding to $130 million [1]. - The facility adds $170 million in new committed capital, including $100 million available upon FDA approval of gedatolisib for specific patient groups and $120 million upon achieving certain commercial revenue milestones [6]. Group 2: Strategic Implications - The amendment enhances Celcuity's ability to manage its capital structure efficiently and provides additional funding for the rolling submission of its New Drug Application (NDA) to the FDA, as well as preparations for the commercial launch of gedatolisib [2]. - The interest-only period has been extended by 14 months, with an additional seven-month extension available upon FDA approval [6]. Group 3: Company Overview - Celcuity is a clinical-stage biotechnology company focused on developing targeted therapies for multiple solid tumor indications, with its lead candidate being gedatolisib, a pan-PI3K and mTORC1/2 inhibitor [4]. - The VIKTORIA-1 Phase 3 clinical trial has completed enrollment and reported topline data for the PIK3CA wild-type cohort, while currently enrolling patients for the PIK3CA mutant cohort [4].