10-K Filing

CELCUITY INC. CIK: 1603454 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001144204-19-011631`
Period End Date	20181231
Filing Date	20190301
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	celc-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 26 Cash Flow Statement 58 Stockholders Equity 26

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
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`	2.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.64M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments	`ShortTermInvestments`	$21.56M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments	`ShortTermInvestments`	$8.95M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$50.00K	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
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$27.73K	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	10.09M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	10.19M	shares	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	$28.74K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	10.09M	shares	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$209.71K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	10.19M	shares	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$269.94K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.48M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$280.06K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$813.61K	USD	Point-in-time
Long term investments	`LongTermInvestments`	-	USD	Point-in-time
Long term investments	`LongTermInvestments`	$7.21M	USD	Point-in-time
Total Assets	`Assets`	$31.97M	USD	Point-in-time
Total Assets	`Assets`	$26.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$71.91K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$119.81K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$5.73K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$536.79K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$506.14K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$578.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$662.33K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$19.88K	USD	Point-in-time
Total Liabilities	`Liabilities`	$578.05K	USD	Point-in-time
Total Liabilities	`Liabilities`	$682.21K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 and 5,000,000 shares authorized as of December 31, 2018 and December 31, 2017, respectively; 0 shares issued and outstanding as of December 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 and 5,000,000 shares authorized as of December 31, 2018 and December 31, 2017, respectively; 0 shares issued and outstanding as of December 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 and 45,000,000 shares authorized as of December 31, 2018 and December 31, 2017, respectively; 10,186,382 and 10,087,516 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$10.09K	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 and 45,000,000 shares authorized as of December 31, 2018 and December 31, 2017, respectively; 10,186,382 and 10,087,516 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$10.19K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.83M	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`	$-9.49M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.61M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$25.35M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$31.39M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$26.03M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$31.97M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$4.98M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$6.33M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$972.52K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.61M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.93M	USD	Annual
Total operating expenses	`OperatingExpenses`	$5.95M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-7.93M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.95M	USD	Annual
Interest expense	`InterestExpense`	$111.00	USD	Annual
Interest expense	`InterestExpense`	$451.66K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$152.88K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$448.83K	USD	Annual
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$3.00K	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$451.72K	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$-298.79K	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.25M	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.48M	USD	Annual
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-7.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.25M	USD	Annual
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.84	USD	Annual
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.74	USD	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.12M	shares	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.46M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.25M	USD	Annual
Depreciation	`Depreciation`	$104.70K	USD	Annual
Depreciation	`Depreciation`	$223.04K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$874.39K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.17M	USD	Annual
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$3.00K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$451.66K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	-	USD	Annual
Change in accrued interest income	`IncreaseDecreaseInAccruedInterestReceivableNet`	$25.10K	USD	Annual
Change in accrued interest income	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-89.32K	USD	Annual
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$231.72K	USD	Annual
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$54.51K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.43K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-262.51K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-44.35K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$392.31K	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.08M	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.95M	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	$28.74M	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	$3.23M	USD	Annual
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	$22.95M	USD	Annual
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	-	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$239.85K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$629.61K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.00K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$19.09M	USD	Annual
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.98M	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$2.05K	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$183.76K	USD	Annual
Proceeds from employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$141.73K	USD	Annual
Proceeds from employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	-	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
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$27.44K	USD	Annual
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	-	USD	Annual
Payments for capital leases	`PaymentsForCapitalLeases`	-	USD	Annual
Payments for capital leases	`PaymentsForCapitalLeases`	$3.32K	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$55.14K	USD	Annual
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$40.96K	USD	Annual
Payments for initial public offering costs	`PaymentsOfStockIssuanceCosts`	$855.66K	USD	Annual
Payments for initial public offering costs	`PaymentsOfStockIssuanceCosts`	$2.89K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.71M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$236.70K	USD	Annual
Net change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.22M	USD	Annual
Net change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$13.25M	USD	Annual
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.91M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.69M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.94M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.91M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.69M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.94M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Adjustments To Additional Paid In Capital Warrant Issued To Underwriter	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedToUnderwriter`	$784.11K	USD	Annual
Beginning balance	`StockholdersEquity`	$5.61M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$25.35M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$31.39M	USD	Point-in-time
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
Exercise of common stock warrants	`StockIssuedDuringPeriodValueUponExerciseOfWarrants`	$183.76K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$677.37K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$1.02M	USD	Annual
Non-employee stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$144.46K	USD	Annual
Non-employee stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$197.01K	USD	Annual
Exercise of common stock options, net of shares withheld for exercise price and employee taxes	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$55.14K	USD	Annual
Employee stock purchases	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$141.73K	USD	Annual
Net loss	`NetIncomeLoss`	$-7.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.25M	USD	Annual
Ending balance	`StockholdersEquity`	$5.61M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$25.35M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$31.39M	USD	Point-in-time

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