10-Q Filing

CELCUITY INC. CIK: 1603454 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001654954-20-005065`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	celc-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 24 Cash Flow Statement 52 Stockholders Equity 13

Balance Sheet 64 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`	$16.85M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	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
Deferred transaction costs	`DeferredCostsCurrent`	$28.74K	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	$34.87K	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`	$190.00K	USD	Point-in-time
Payroll tax receivable	`OtherReceivablesNetCurrent`	$190.00K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$337.25K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.25M	shares	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$274.60K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.25M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$17.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$833.46K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$795.68K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$158.67K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$196.98K	USD	Point-in-time
Total assets	`Assets`	$20.28M	USD	Point-in-time
Total assets	`Assets`	$18.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$68.10K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$142.77K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.78K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.77K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$178.47K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$176.60K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$584.32K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$614.46K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$864.95K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$911.33K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$12.66K	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`	$983.23K	USD	Point-in-time
Total liabilities	`Liabilities`	$877.61K	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 0 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`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, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 10,253,988 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$10.25K	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 10,253,988 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$10.25K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.52M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.30M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$20.28M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$18.39M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.85M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$383.55K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$463.40K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.31M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.97M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.31M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.97M	USD	1 Quarter
Interest expense	`InterestExpense`	$33.00	USD	1 Quarter
Interest expense	`InterestExpense`	$43.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$128.64K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$63.85K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$63.82K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$128.59K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.25M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.85M	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.20M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.25M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Total	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.85M	USD	Point-in-time
Total	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.74M	USD	Point-in-time
Total	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.72M	USD	Point-in-time
Total	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.94M	USD	Point-in-time
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	$14.10K	USD	1 Quarter
Depreciation	`Depreciation`	$94.79K	USD	1 Quarter
Depreciation	`Depreciation`	$76.17K	USD	1 Quarter
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	$101.15K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$464.65K	USD	1 Quarter
Registration statement costs included in accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$184.65K	USD	1 Quarter
Registration statement costs included in accounts payable	`IncreaseDecreaseInOtherAccountsPayable`	$6.13K	USD	1 Quarter
Non-cash interest income, net of cash received	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Non-cash interest income, net of cash received	`OtherNoncashIncomeExpense`	$-7.96K	USD	1 Quarter
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$17.82K	USD	1 Quarter
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$62.65K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.31K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-92.20K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$12.28K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$30.14K	USD	1 Quarter
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-21.34K	USD	1 Quarter
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-20.66K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.83M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.59M	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	-	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	$245.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.64K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$45.60K	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$197.36K	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.60K	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$174.96K	USD	1 Quarter
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$1.30K	USD	1 Quarter
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	-	USD	1 Quarter
Payments for finance leases	`PaymentsForCapitalLeases`	$1.43K	USD	1 Quarter
Payments for finance leases	`PaymentsForCapitalLeases`	$1.44K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$172.23K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.44K	USD	1 Quarter
Net change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.22M	USD	1 Quarter
Net change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.88M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.85M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.74M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.72M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.94M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.85M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.74M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.72M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.94M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$23.86M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$25.35M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$17.52M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$19.30M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$464.65K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$184.65K	USD	1 Quarter
Exercise of common stock options, net of shares withheld for exercise price	`StockIssuedDuringPeriodValueStockOptionsExercised`	$174.96K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$23.86M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$25.35M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$17.52M	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.