10-K Filing

CELCUITY INC. CIK: 1603454 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001144204-18-014940`
Period End Date	20171231
Filing Date	20180315
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	celc-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 24 Cash Flow Statement 54 Stockholders Equity 22

Balance Sheet 64 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`	$2.64M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	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, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Investments	`ShortTermInvestments`	$21.56M	USD	Point-in-time
Investments	`ShortTermInvestments`	-	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	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
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$50.00K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$5.72K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	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
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`	$209.71K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$24.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.91M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$280.06K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	10.09M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$144.91K	USD	Point-in-time
Long term investments	`LongTermInvestments`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Long term investments	`LongTermInvestments`	$7.21M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	10.09M	shares	Point-in-time
Total Assets	`Assets`	$31.97M	USD	Point-in-time
Total Assets	`Assets`	$6.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$71.91K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$331.53K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$113.83K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$506.14K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$445.36K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$578.05K	USD	Point-in-time
Total Liabilities	`Liabilities`	$578.05K	USD	Point-in-time
Total Liabilities	`Liabilities`	$445.36K	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 6,440,139 shares issued and outstanding as of December 31, 2017 and December 31, 2016, respectively	`MembersCapital`	-	USD	Point-in-time
Members' equity contributions: 0 and 6,440,139 shares issued and outstanding as of December 31, 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 December 31, 2017 and December 31, 2016, respectively; 0 shares issued and outstanding as of December 31, 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 December 31, 2017 and December 31, 2016, respectively; 0 shares issued and outstanding as of December 31, 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 December 31, 2017 and December 31, 2016, respectively; 10,087,516 and 0 shares issued and outstanding as of December 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$10.09K	USD	Point-in-time
Common stock, $0.001 par value: 45,000,000 and 0 shares authorized as of December 31, 2017 and December 31, 2016, respectively; 10,087,516 and 0 shares issued and outstanding as of December 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$593.37K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.01M	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`	$31.39M	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`	$31.97M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$3.06M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.98M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$972.52K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$263.66K	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.33M	USD	Annual
Total operating expenses	`OperatingExpenses`	$5.95M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.95M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-3.33M	USD	Annual
Interest expense	`InterestExpense`	-	USD	Annual
Interest expense	`InterestExpense`	$451.66K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$152.88K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$18.02K	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$-298.79K	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$18.02K	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.31M	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.25M	USD	Annual
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-3.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.25M	USD	Annual
Net loss per unit, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.84	USD	Annual
Net loss per unit, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.52	USD	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.31M	shares	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.46M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.25M	USD	Annual
Depreciation	`Depreciation`	$104.70K	USD	Annual
Depreciation	`Depreciation`	$73.06K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$874.39K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$187.31K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$451.66K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	-	USD	Annual
Non-cash interest income	`OtherNoncashIncome`	$25.10K	USD	Annual
Non-cash interest income	`OtherNoncashIncome`	-	USD	Annual
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$231.72K	USD	Annual
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$69.78K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-262.51K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$392.31K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$91.98K	USD	Annual
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.95M	USD	Annual
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.89M	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	$28.74M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.90K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$239.85K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.98M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.90K	USD	Annual
Proceeds from sale of member shares, net of issuance costs	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	-	USD	Annual
Proceeds from sale of member shares, net of issuance costs	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	$3.72M	USD	Annual
Proceeds from sale of convertible promissory notes	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from sale of convertible promissory notes	`ProceedsFromConvertibleDebt`	$7.49M	USD	Annual
Proceeds from initial public offering of common stock	`ProceedsFromIssuanceInitialPublicOffering`	$24.11M	USD	Annual
Proceeds from initial public offering of common stock	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$2.05K	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$40.96K	USD	Annual
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Payments for initial public offering costs	`PaymentsOfStockIssuanceCosts`	$855.66K	USD	Annual
Payments for initial public offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.71M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.72M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.22M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$789.11K	USD	Annual
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.64M	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`	$2.64M	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	Annual
Debt issuance costs netted against proceeds from sale of convertible promissory notes	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	Annual
Debt discount related to investor and agent warrants (Note 11)	`DebtDiscountRelatedToInvestorAndAgentWarrant`	$1.06M	USD	Annual
Debt discount related to investor and agent warrants (Note 11)	`DebtDiscountRelatedToInvestorAndAgentWarrant`	-	USD	Annual
Initial public offering costs included in accounts payable	`DeferredTransactionCostsIncludedInAccountsPayableAndAccruedExpenses`	-	USD	Annual
Initial public offering costs included in accounts payable	`DeferredTransactionCostsIncludedInAccountsPayableAndAccruedExpenses`	$2.89K	USD	Annual
Underwriter's reimbursable offering costs netted against initial public offering proceeds	`IpoCostsReducedInCashProceeds`	$275.00K	USD	Annual
Underwriter's reimbursable offering costs netted against initial public offering proceeds	`IpoCostsReducedInCashProceeds`	-	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Adjustments to Additional Paid In Capital, Warrant Issued To Underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToUnderwriter`	$784.11K	USD	Annual
Balance	`StockholdersEquity`	$5.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.02M	USD	Point-in-time
Member shares issued, net	`MembersUnitsIssuedDuringPeriodValueNewIssue`	$3.72M	USD	Annual
Warrants issued - unsecured convertible promissory note holders	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToUnsecuredConvertiblePromissoryNoteHolders`	$776.72K	USD	Annual
Warrants issued - placement agent	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToPlacementAgent`	$287.00K	USD	Annual
Corporate conversion from Celcuity LLC to Celcuity Inc.	`AdjustmentsToAdditionalPaidInCapitalOther`	-	USD	Annual
Corporate conversion to common stock	`StockIssuedConvertibleConversionOfCommonStockValue`	-	USD	Annual
Common stock issued in initial public offering, net of underwriter commission of $1,835,400, initial public offering costs of $1,133,553 and underwriter warrant of $784,111	`StockIssuedDuringPeriodValueNewIssues`	$22.47M	USD	Annual
Warrant issued - underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToUnderwriter`	$784.11K	USD	Annual
Conversion of unsecured convertible promissory note to common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$6.84M	USD	Annual
Exercise of common stock warrants	`StockIssuedDuringPeriodValueUponExerciseOfWarrants`	$2.05K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$141.41K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$677.37K	USD	Annual
Non-employee stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$197.01K	USD	Annual
Non-employee stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$45.90K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.25M	USD	Annual
Balance	`StockholdersEquity`	$5.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.39M	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.