This Fund Bought $38 Million of Celcuity as Stock Surges on Investigational Cancer Drug Results

Core Insights - Apis Capital Advisors has initiated a new position in Celcuity Inc., acquiring 776,000 shares valued at $38.33 million as of September 30, representing 8.5% of the fund's total U.S. equity assets of $452.7 million [2][7] - Celcuity's stock has surged 669% over the past year, significantly outperforming the S&P 500's 13% gain during the same period [3] - The company specializes in precision oncology solutions, focusing on personalized treatment for advanced or metastatic breast and ovarian cancer [5] Company Overview - Celcuity Inc. has a market capitalization of $4.6 billion and a share price of $100.35 as of the latest market close [4] - The company reported no revenue and a net income loss of $162.7 million for the trailing twelve months [4] - Celcuity's lead candidate, Gedatolisib, and the CELsignia diagnostic platform are central to its strategy of targeting abnormal cellular signaling in cancer [5] Recent Developments - Following positive phase 3 results for Gedatolisib, Celcuity submitted a new drug application to the FDA on November 17 [8] - The company's momentum is attributed to rapid clinical and platform progress, aiming to address complex cancer treatment challenges [8] - Investors view Celcuity as one of the most promising stories in precision oncology for the year, reflecting growing confidence in its scientific approach [6]