10-K Filing

CELCUITY INC. CIK: 1603454 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001654954-20-002595`
Period End Date	20191231
Filing Date	20200313
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	celc-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 26 Cash Flow Statement 64 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	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
Investments	`ShortTermInvestments`	-	USD	Point-in-time
Investments	`ShortTermInvestments`	$8.95M	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`	$22.01K	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	$28.74K	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
Deferred transaction costs	`DeferredCostsCurrent`	$28.74K	USD	Point-in-time
Payroll tax receivable	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.19M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.25M	shares	Point-in-time
Payroll tax receivable	`OtherReceivablesNetCurrent`	$190.00K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$274.60K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$269.94K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.19M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.22M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$813.61K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$833.46K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$196.98K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Total assets	`Assets`	$26.03M	USD	Point-in-time
Total assets	`Assets`	$20.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$119.81K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$142.77K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.77K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.73K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$178.47K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$584.32K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$536.79K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$662.33K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$911.33K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$19.88K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$14.11K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$57.79K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$682.21K	USD	Point-in-time
Total liabilities	`Liabilities`	$983.23K	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 0 shares issued and outstanding as of December 31, 2019 and December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 0 shares issued and outstanding as of December 31, 2019 and December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 10,253,988 and 10,186,382 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$10.25K	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 10,253,988 and 10,186,382 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$10.19K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.30M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$26.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$20.28M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$6.33M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$6.27M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.61M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.54M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.93M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.81M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-7.93M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-7.81M	USD	Annual
Interest expense	`InterestExpense`	$111.00	USD	Annual
Interest expense	`InterestExpense`	$159.00	USD	Annual
Interest income	`InvestmentIncomeInterest`	$446.10K	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, net	`NonoperatingIncomeExpense`	$451.72K	USD	Annual
Other income, net	`NonoperatingIncomeExpense`	$445.94K	USD	Annual
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.36M	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`	$-7.36M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.48M	USD	Annual
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.74	USD	Annual
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.72	USD	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.23M	shares	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.12M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.36M	USD	Annual
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	$2.70K	USD	Annual
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	$24.05K	USD	Annual
Net loss	`NetIncomeLoss`	$-7.48M	USD	Annual
Property and equipment funded by capital lease	`CapitalLeaseObligationsIncurred`	$28.93K	USD	Annual
Property and equipment funded by capital lease	`CapitalLeaseObligationsIncurred`	-	USD	Annual
Depreciation	`Depreciation`	$339.00K	USD	Annual
Leasehold improvements funded by landlord and related deferred rent included in accrued expenses	`LeaseholdImprovementsFundedByLandlordAndRelatedDeferredRentIncludedInAccruedExpenses`	$75.00K	USD	Annual
Depreciation	`Depreciation`	$223.04K	USD	Annual
Leasehold improvements funded by landlord and related deferred rent included in accrued expenses	`LeaseholdImprovementsFundedByLandlordAndRelatedDeferredRentIncludedInAccruedExpenses`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.04M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.17M	USD	Annual
Registration statement costs included in accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	Annual
Registration statement costs included in accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	$1.30K	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 income, net of cash received	`OtherNoncashIncomeExpense`	$-89.32K	USD	Annual
Non-cash interest income, net of cash received	`OtherNoncashIncomeExpense`	$-42.91K	USD	Annual
Payroll tax receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Payroll tax receivable	`IncreaseDecreaseInOtherReceivables`	$190.00K	USD	Annual
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$20.14K	USD	Annual
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$54.51K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$45.62K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.43K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$111.40K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-44.35K	USD	Annual
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-9.12K	USD	Annual
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	-	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.00M	USD	Annual
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.08M	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Purchases of investments	`PaymentsToAcquireInvestments`	$3.23M	USD	Annual
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	$8.91M	USD	Annual
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	$22.95M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$380.20K	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 investing activities	`NetCashProvidedByUsedInInvestingActivities`	$8.53M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$19.09M	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$183.76K	USD	Annual
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$3.75K	USD	Annual
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$174.96K	USD	Annual
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$141.73K	USD	Annual
Proceeds from employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$87.62K	USD	Annual
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$1.30K	USD	Annual
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$27.44K	USD	Annual
Payments for finance leases	`PaymentsForFinanceLeases`	$5.73K	USD	Annual
Payments for finance leases	`PaymentsForFinanceLeases`	$3.32K	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$55.14K	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	-	USD	Annual
Payments for IPO costs	`PaymentsOfStockIssuanceCosts`	$2.89K	USD	Annual
Payments for IPO costs	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$259.31K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$236.70K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.79M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.25M	USD	Annual
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.69M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.69M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$31.39M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$25.35M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$19.30M	USD	Point-in-time
Exercise of common stock warrants	`StockIssuedDuringPeriodValueUponExerciseOfWarrants`	$183.76K	USD	Annual
Exercise of common stock warrants	`StockIssuedDuringPeriodValueUponExerciseOfWarrants`	$3.75K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$1.04M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$1.17M	USD	Annual
Exercise of common stock options, net of shares withheld for exercise price	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Exercise of common stock options, net of shares withheld for exercise price	`StockIssuedDuringPeriodValueStockOptionsExercised`	$174.96K	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$55.14K	USD	Annual
Payments for taxes related to net share settlement of stock options exercised	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	-	USD	Annual
Employee stock purchases	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$87.62K	USD	Annual
Employee stock purchases	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$141.73K	USD	Annual
Net loss	`NetIncomeLoss`	$-7.36M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.48M	USD	Annual
Ending balance	`StockholdersEquity`	$31.39M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$25.35M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$19.30M	USD	Point-in-time

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