10-Q/A Filing

CELCUITY INC. CIK: 1603454 Q3 2017

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-17-061978`
Period End Date	20170930
Filing Date	20171201
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	celc-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 49 Cash Flow Statement 59 Stockholders Equity 24

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Common Shares, Issued	`CommonUnitIssued`	6.44M	shares	Point-in-time
Common Shares, Issued	`CommonUnitIssued`	0.00	shares	Point-in-time
Common Shares, Outstanding	`CommonUnitOutstanding`	6.44M	shares	Point-in-time
Common Shares, Outstanding	`CommonUnitOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.57M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.86M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Investments	`ShortTermInvestments`	$245.00K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Investments	`ShortTermInvestments`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$50.00K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$50.00K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$27.73K	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$5.72K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$247.43K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.91M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$32.87M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$144.91K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	10.08M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$272.25K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	10.08M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Total Assets	`Assets`	$6.06M	USD	Point-in-time
Total Assets	`Assets`	$33.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$331.53K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.86K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$301.59K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$113.83K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$336.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$445.36K	USD	Point-in-time
Total Liabilities	`Liabilities`	$445.36K	USD	Point-in-time
Total Liabilities	`Liabilities`	$336.45K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Members' equity contributions: 0 and 6,440,105 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	`MembersCapital`	-	USD	Point-in-time
Members' equity contributions: 0 and 6,440,105 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	`MembersCapital`	$13.35M	USD	Point-in-time
Preferred stock, $0.001 par value: 5,000,000 and 0 shares authorized as of September 30, 2017 and December 31, 2016, respectively; 0 shares issued and outstanding as of September 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value: 5,000,000 and 0 shares authorized as of September 30, 2017 and December 31, 2016, respectively; 0 shares issued and outstanding as of September 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value: 45,000,000 and 0 shares authorized as of September 30, 2017 and December 31, 2016, respectively; 10,082,050 and 0 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$10.08K	USD	Point-in-time
Common stock, $0.001 par value: 45,000,000 and 0 shares authorized as of September 30, 2017 and December 31, 2016, respectively; 10,082,050 and 0 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$593.37K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-283.04K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.33M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.61M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$32.81M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.02M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$6.06M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$33.15M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$812.80K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.22M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.36M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.58M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$551.55K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$196.16K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$164.66K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$64.74K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.13M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.42M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$877.54K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.42M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.13M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-877.54K	USD	1 Quarter
Interest expense	`InterestExpense`	$451.66K	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$264.90K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$30.32K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$53.03K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$9.02K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$13.04K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-234.58K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$13.04K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$9.02K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-398.63K	USD	3 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.41M	USD	3 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-868.52K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.53M	USD	3 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.76M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-868.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.41M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.76M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	3 Qtrs
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.69	USD	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.44M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.85M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.27M	shares	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.58M	shares	3 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-868.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.41M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.76M	USD	1 Quarter
Depreciation	`Depreciation`	$18.75K	USD	1 Quarter
Depreciation	`Depreciation`	$54.23K	USD	3 Qtrs
Depreciation	`Depreciation`	$76.16K	USD	3 Qtrs
Depreciation	`Depreciation`	$30.71K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$138.28K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$561.10K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$73.28K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$109.58K	USD	3 Qtrs
Non-cash interest expense	`OtherNoncashExpense`	-	USD	3 Qtrs
Non-cash interest expense	`OtherNoncashExpense`	$451.66K	USD	3 Qtrs
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$269.44K	USD	3 Qtrs
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$34.62K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-300.79K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$170.83K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$25.26K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.84M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$245.00K	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	-	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.77K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$203.50K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.77K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-448.50K	USD	3 Qtrs
Proceeds from sale of member units, net of issuance costs	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	$3.72M	USD	3 Qtrs
Proceeds from sale of member units, net of issuance costs	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	-	USD	3 Qtrs
Proceeds from sale of convertible promissory notes	`ProceedsFromConvertibleDebt`	$7.49M	USD	3 Qtrs
Proceeds from sale of convertible promissory notes	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Proceeds from initial public offering of common stock	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	3 Qtrs
Proceeds from initial public offering of common stock	`ProceedsFromIssuanceInitialPublicOffering`	$24.11M	USD	3 Qtrs
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	3 Qtrs
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$40.96K	USD	3 Qtrs
Payments for initial public offering costs	`PaymentsOfStockIssuanceCosts`	$827.71K	USD	3 Qtrs
Payments for initial public offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.73M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.72M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.50M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.45M	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.57M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.30M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.86M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$6.57M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$32.30M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.86M	USD	Point-in-time
Debt issuance costs netted against proceeds from sale of convertible promissory notes	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$844.17K	USD	3 Qtrs
Debt issuance costs netted against proceeds from sale of convertible promissory notes	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	3 Qtrs
Debt discount related to investor and agent warrants (Note 8)	`DebtDiscountRelatedToInvestorAndAgentWarrant`	-	USD	3 Qtrs
Debt discount related to investor and agent warrants (Note 8)	`DebtDiscountRelatedToInvestorAndAgentWarrant`	$1.06M	USD	3 Qtrs
Initial public offering costs included in accounts payable and accrued expenses	`DeferredTransactionCostsIncludedInAccountsPayableAndAccruedExpenses`	-	USD	3 Qtrs
Initial public offering costs included in accounts payable and accrued expenses	`DeferredTransactionCostsIncludedInAccountsPayableAndAccruedExpenses`	$21.05K	USD	3 Qtrs
Underwriters reimbursable offering costs netted against initial public offering proceeds	`IpoCostsReducedInCashProceeds`	-	USD	3 Qtrs
Underwriters reimbursable offering costs netted against initial public offering proceeds	`IpoCostsReducedInCashProceeds`	$275.00K	USD	3 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Adjustments to Additional Paid In Capital, Warrant Issued To Underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToUnderwriter`	$784.11K	USD	3 Qtrs
Balance	`StockholdersEquity`	$5.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.02M	USD	Point-in-time
Member units issued, net	`MembersUnitsIssuedDuringPeriodValueNewIssue`	$3.72M	USD	Annual
Warrants issued - unsecured convertible promissory note holders	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToUnsecuredConvertiblePromissoryNoteHolders`	$776.72K	USD	3 Qtrs
Warrants issued - placement agent	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToPlacementAgent`	$287.00K	USD	3 Qtrs
Corporate conversion from Celcuity LLC to Celcuity Inc.	`AdjustmentsToAdditionalPaidInCapitalOther`	-	USD	3 Qtrs
Corporate conversion to common stock	`StockIssuedConvertibleConversionOfCommonStockValue`	-	USD	3 Qtrs
Common stock issued in initial public offering, net of underwriter commission of $1,835,400, initial public offering costs of $1,123,759 and underwriter warrant of $784,111	`StockIssuedDuringPeriodValueNewIssues`	$22.48M	USD	3 Qtrs
Warrant issued - underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToUnderwriter`	$784.11K	USD	3 Qtrs
Conversion of unsecured convertible promissory note to common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$6.84M	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$141.41K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$428.90K	USD	3 Qtrs
Non-employee stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$132.19K	USD	3 Qtrs
Non-employee stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$45.90K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-868.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.53M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.41M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.76M	USD	1 Quarter
Balance	`StockholdersEquity`	$5.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.02M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.