10-Q Filing

CELCUITY INC. CIK: 1603454 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-013953`
Period End Date	20220331
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 26 Cash Flow Statement 60 Stockholders Equity 18

Balance Sheet 66 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`	2.50M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$78.30M	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	USD	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	$22.14K	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	$170.50K	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Payroll tax receivable	`OtherReceivablesNetCurrent`	$298.76K	USD	Point-in-time
Payroll tax receivable	`OtherReceivablesNetCurrent`	$193.03K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$722.68K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.92M	shares	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$762.88K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.92M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.92M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.92M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$79.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$85.35M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$312.44K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$291.08K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$241.90K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$194.93K	USD	Point-in-time
Total Assets	`Assets`	$79.93M	USD	Point-in-time
Total Assets	`Assets`	$85.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.51M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.85K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.86K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$189.86K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$189.27K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$802.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.51M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$981.00	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$2.45K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$15.33K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$61.77K	USD	Point-in-time
Note payable, non-current	`LongTermNotesPayable`	$14.82M	USD	Point-in-time
Note payable, non-current	`LongTermNotesPayable`	$14.63M	USD	Point-in-time
Total Liabilities	`Liabilities`	$17.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$18.39M	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 0 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 0 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 14,920,302 and 14,918,887 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$14.92K	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 14,920,302 and 14,918,887 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$14.92K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$124.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$125.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-63.86M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$68.71M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$11.70M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$35.17M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$61.54M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$85.91M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$79.93M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$2.24M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$811.29K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$555.43K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.79M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.79M	USD	1 Quarter
Interest expense	`InterestExpense`	$435.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$24.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$389.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.16K	USD	1 Quarter
Loss on sale of fixed assets	`LossOnSaleOfFixedAssets`	$263.00	USD	1 Quarter
Loss on sale of fixed assets	`LossOnSaleOfFixedAssets`	-	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-426.84K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$102.00	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.93M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.79M	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasic`	$-0.53	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasic`	$-0.25	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	14.92M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	11.07M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Depreciation	`Depreciation`	$55.99K	USD	1 Quarter
Depreciation	`Depreciation`	$98.22K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$449.10K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$756.27K	USD	1 Quarter
Amortization of debt issuance costs and discount	`AmortizationOfFinancingCostsAndDiscounts`	$95.01K	USD	1 Quarter
Amortization of debt issuance costs and discount	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	1 Quarter
PIK interest	`PaymentInKindInterest`	-	USD	1 Quarter
PIK interest	`PaymentInKindInterest`	$102.09K	USD	1 Quarter
Loss on sale of fixed assets	`LossOnDispositionOfAssets`	$263.00	USD	1 Quarter
Loss on sale of fixed assets	`LossOnDispositionOfAssets`	-	USD	1 Quarter
Payroll tax receivable	`IncreaseDecreaseInOtherReceivables`	$-105.73K	USD	1 Quarter
Payroll tax receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$234.31K	USD	1 Quarter
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$40.20K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$73.92K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$513.09K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-113.76K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$413.50K	USD	1 Quarter
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-58.00	USD	1 Quarter
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-3.28K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.93M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.52M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.63K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.93K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$500.00	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.43K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.63K	USD	1 Quarter
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$11.26K	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$7.41K	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from follow-on offering, net of underwriting discounts and offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from follow-on offering, net of underwriting discounts and offering costs	`ProceedsFromIssuanceOfCommonStock`	$25.81M	USD	1 Quarter
Gross proceeds from an ATM offering	`GrossProceedsFromAnAtmOffering`	-	USD	1 Quarter
Gross proceeds from an ATM offering	`GrossProceedsFromAnAtmOffering`	$38.96K	USD	1 Quarter
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$12.02K	USD	1 Quarter
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$52.24K	USD	1 Quarter
Payments for finance leases	`FinanceLeasePrincipalPayments`	$1.45K	USD	1 Quarter
Payments for finance leases	`FinanceLeasePrincipalPayments`	$1.46K	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.85M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-46.29K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$23.30M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-5.99M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.94M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.64M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$84.29M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$78.30M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.94M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.64M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$84.29M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$78.30M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$24.00	USD	1 Quarter
Interest paid	`InterestPaidNet`	$237.90K	USD	1 Quarter
Offering and registration statement costs included in accounts payable	`OfferingAndRegistrationStatementCostsIncludedInAccountsPayable`	$51.24K	USD	1 Quarter
Offering and registration statement costs included in accounts payable	`OfferingAndRegistrationStatementCostsIncludedInAccountsPayable`	$104.24K	USD	1 Quarter
Property and equipment included in accounts payable	`PropertyAndEquipmentIncludedInAccountsPayable`	$22.99K	USD	1 Quarter
Property and equipment included in accounts payable	`PropertyAndEquipmentIncludedInAccountsPayable`	$14.10K	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$68.71M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$11.70M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$35.17M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$61.54M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$756.27K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$449.10K	USD	1 Quarter
Exercise of common stock options, net of shares withheld for exercise price	`StockIssuedDuringPeriodValueStockOptionsExercised`	$7.41K	USD	1 Quarter
Exercise of common stock options, net of shares withheld for exercise price	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Exercise of common stock warrants	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$11.26K	USD	1 Quarter
Issuance of common stock upon closing of follow-on offering, net of underwriting discounts and offering costs	`StockIssuedDuringPeriodValueOther`	$25.77M	USD	1 Quarter
Issuance of common stock in an at-the-market (ATM) offering	`StockIssuedDuringPeriodValueNewIssues`	$38.96K	USD	1 Quarter
Issuance costs associated with ATM offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$3.87K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$68.71M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$11.70M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$35.17M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$61.54M	USD	Point-in-time

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