10-K Filing

CELCUITY INC. CIK: 1603454 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001493152-24-011549`
Period End Date	20231231
Filing Date	20240327
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 28 Cash Flow Statement 67 Stockholders Equity 25

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`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`	$30.66M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	854,134.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.57M	USD	Point-in-time
Investments	`ShortTermInvestments`	$149.92M	USD	Point-in-time
Investments	`ShortTermInvestments`	$144.02M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.12M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	854,134.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.01M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$190.59M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	65.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$175.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	65.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.51M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$260.29K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$228.78K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.67M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$400.02K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.67M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$246.27K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.51M	shares	Point-in-time
Total Assets	`Assets`	$191.22M	USD	Point-in-time
Total Assets	`Assets`	$175.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.08M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$2.45K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$191.75K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$184.95K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.06M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.19M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$61.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$225.92K	USD	Point-in-time
Note payable, non-current	`LongTermNotesPayable`	$37.04M	USD	Point-in-time
Note payable, non-current	`LongTermNotesPayable`	$34.98M	USD	Point-in-time
Total Liabilities	`Liabilities`	$41.93M	USD	Point-in-time
Total Liabilities	`Liabilities`	$51.45M	USD	Point-in-time
Commitments and Contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 854,134 and 1,120,873 shares issued and outstanding as of December 31, 2023 and 2022, respectively	`PreferredStockValue`	$1.12K	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 854,134 and 1,120,873 shares issued and outstanding as of December 31, 2023 and 2022, respectively	`PreferredStockValue`	$854.00	USD	Point-in-time
Common stock, $0.001 par value: 65,000,000 shares authorized as of December 31, 2023 and 2022, respectively; 25,506,012 and 21,667,250 shares issued and outstanding as of December 31, 2023 and 2022, respectively	`CommonStockValue`	$25.51K	USD	Point-in-time
Common stock, $0.001 par value: 65,000,000 shares authorized as of December 31, 2023 and 2022, respectively; 25,506,012 and 21,667,250 shares issued and outstanding as of December 31, 2023 and 2022, respectively	`CommonStockValue`	$21.67K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$230.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$299.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-160.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-96.30M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$133.77M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$139.77M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$68.71M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$191.22M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$175.70M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$35.29M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$60.59M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.64M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.10M	USD	Annual
Total operating expenses	`OperatingExpenses`	$66.23M	USD	Annual
Total operating expenses	`OperatingExpenses`	$39.39M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-66.23M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-39.39M	USD	Annual
Interest expense	`InterestExpense`	$5.33M	USD	Annual
Interest expense	`InterestExpense`	$2.11M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.13M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$7.78M	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-978.95K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$2.45M	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-63.78M	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-40.37M	USD	Annual
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-40.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-63.78M	USD	Annual
Net loss per share, basic	`EarningsPerShareBasic`	$-2.69	USD	Annual
Net loss per share, basic	`EarningsPerShareBasic`	$-2.64	USD	Annual
Net loss per share, diluted	`EarningsPerShareDiluted`	$-2.69	USD	Annual
Net loss per share, diluted	`EarningsPerShareDiluted`	$-2.64	USD	Annual
Weighted average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.42M	shares	Annual
Weighted average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.68M	shares	Annual
Weighted average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.42M	shares	Annual
Weighted average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.68M	shares	Annual

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-40.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-63.78M	USD	Annual
Depreciation	`Depreciation`	$142.77K	USD	Annual
Depreciation	`Depreciation`	$210.92K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$4.90M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$4.64M	USD	Annual
Amortization of debt issuance costs and discount	`AmortizationOfFinancingCostsAndDiscounts`	$241.75K	USD	Annual
Amortization of debt issuance costs and discount	`AmortizationOfFinancingCostsAndDiscounts`	$395.76K	USD	Annual
PIK interest	`PaidInKindInterest`	$1.81M	USD	Annual
PIK interest	`PaidInKindInterest`	$455.07K	USD	Annual
Non-cash operating lease, net	`NoncashOperatingLeaseNet`	$-3.24K	USD	Annual
Non-cash operating lease, net	`NoncashOperatingLeaseNet`	$4.37K	USD	Annual
Change in accrued interest income	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$993.46K	USD	Annual
Change in accrued interest income	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$142.93K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.44M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.53M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.43M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.08M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.26M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.87M	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-53.81M	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-36.01M	USD	Annual
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$309.61M	USD	Annual
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	-	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	$314.53M	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	$143.87M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$97.64K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$158.77K	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.01M	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-144.03M	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$22.50K	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$152.41K	USD	Annual
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$388.52K	USD	Annual
Proceeds from employee stock purchases	`ProceedsFromStockPlans`	$202.84K	USD	Annual
Proceeds from employee stock purchases	`ProceedsFromStockPlans`	$171.71K	USD	Annual
Proceeds from a private placement offering, net of discounts and offering costs	`ProceedsFromIssuanceOfPrivatePlacement`	$100.00M	USD	Point-in-time
Proceeds from a private placement offering, net of discounts and offering costs	`ProceedsFromIssuanceOfPrivatePlacement`	$95.72M	USD	Annual
Proceeds from a private placement offering, net of discounts and offering costs	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	Annual
Proceeds from note payable, net of debt issuance and discount costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	Annual
Proceeds from note payable, net of debt issuance and discount costs	`ProceedsFromDebtNetOfIssuanceCosts`	$19.51M	USD	Annual
Proceeds from an ATM offering, net of commission fees and offering costs	`ProceedsFromAnATMOfferingNetOfCommisionAndOfferingCost`	$14.43M	USD	Annual
Proceeds from an ATM offering, net of commission fees and offering costs	`ProceedsFromAnATMOfferingNetOfCommisionAndOfferingCost`	$4.78M	USD	Annual
Proceeds from pre-funded warrants, net of offering costs	`ProceedsFromIssuanceOfWarrants`	$49.92M	USD	Annual
Proceeds from pre-funded warrants, net of offering costs	`ProceedsFromIssuanceOfWarrants`	-	USD	Annual
Payments for secondary registration statement costs	`PaymentsForSecondaryRegistrationStatementCosts`	$45.80K	USD	Annual
Payments for secondary registration statement costs	`PaymentsForSecondaryRegistrationStatementCosts`	-	USD	Annual
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$2.72K	USD	Annual
Payments for finance leases	`FinanceLeasePrincipalPayments`	$2.45K	USD	Annual
Payments for finance leases	`FinanceLeasePrincipalPayments`	$5.85K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$120.33M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$64.91M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$6.09M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-59.71M	USD	Annual
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$24.57M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.66M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$84.29M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$24.57M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.66M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$84.29M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$1.26M	USD	Annual
Interest paid	`InterestPaidNet`	$3.27M	USD	Annual
Deferred financing costs and offering and registration statement costs included in accounts payable	`DeferredFinancingCostsAndOfferingAndRegistrationStatementCostsIncludedInAccountsPayable`	$51.02K	USD	Annual
Deferred financing costs and offering and registration statement costs included in accounts payable	`DeferredFinancingCostsAndOfferingAndRegistrationStatementCostsIncludedInAccountsPayable`	$56.41K	USD	Annual
Property and equipment included in accounts payable	`PropertyAndEquipmentIncludedInAccountsPayable`	-	USD	Annual
Property and equipment included in accounts payable	`PropertyAndEquipmentIncludedInAccountsPayable`	$13.62K	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$133.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$139.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.71M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$4.90M	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$4.64M	USD	Annual
Employee stock purchases	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$171.71K	USD	Annual
Employee stock purchases	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$202.84K	USD	Annual
Exercise of common stock options, net of shares withheld for exercise price	`StockIssuedDuringPeriodValueStockOptionsExercised`	$152.41K	USD	Annual
Exercise of common stock options, net of shares withheld for exercise price	`StockIssuedDuringPeriodValueStockOptionsExercised`	$388.52K	USD	Annual
Issuance of common and preferred stock upon closing of private placement offering	`StockIssuedDuringPeriodValueIssuanceOfCommonAndPreferredStockUponClosingOfPrivatePlacementOffering`	$100.00M	USD	Annual
Issuance costs associated with private placement offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCostsIssuanceWithPrivatePlacementOffering`	$4.32M	USD	Annual
Issuance costs associated with private placement offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCostsIssuanceWithPrivatePlacementOffering`	$7.49K	USD	Annual
Issuance of common stock in an ATM offering	`StockIssuedDuringPeriodValueNewIssues`	$5.17M	USD	Annual
Issuance of common stock in an ATM offering	`StockIssuedDuringPeriodValueNewIssues`	$15.00M	USD	Annual
Issuance costs associated with an ATM offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$614.21K	USD	Annual
Issuance costs associated with an ATM offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$389.76K	USD	Annual
Net loss	`NetIncomeLoss`	$-40.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-63.78M	USD	Annual
Conversion of preferred to common stock	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	Annual
Exercise of common stock warrants	`ExerciseOfCommonStockWarrants`	$-22.50K	USD	Annual
Issuance of pre-funded warrants	`AdditionalPaidInCapitalPreFundedWarrantIssued`	$50.00M	USD	Annual
Issuance costs associated with pre-funded warrants	`IssuanceCostsAssociatedWithPrefundedWarrants`	$-116.89K	USD	Annual
Balance	`StockholdersEquity`	$133.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$139.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.71M	USD	Point-in-time

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