10-Q Filing

CELCUITY INC. CIK: 1603454 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001654954-20-012025`
Period End Date	20200930
Filing Date	20201109
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	celc_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 52 Cash Flow Statement 56 Stockholders Equity 38

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par or stated value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	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`	$16.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	USD	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	-	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, 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
Common stock, shares issued	`CommonStockSharesIssued`	10.29M	shares	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$103.61K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$274.60K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.29M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$14.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.25M	USD	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$626.27K	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`	$275.70K	USD	Point-in-time
Total Assets	`Assets`	$20.28M	USD	Point-in-time
Total Assets	`Assets`	$14.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$83.13K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$142.77K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$5.80K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$5.77K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$178.47K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$189.40K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$584.32K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$756.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$911.33K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$9.76K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$14.11K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$107.04K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$57.79K	USD	Point-in-time
Total Liabilities	`Liabilities`	$983.23K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.15M	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 0 shares issued and outstanding as of September 30, 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 September 30, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 10,289,253 and 10,253,988 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$10.29K	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 10,289,253 and 10,253,988 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$10.25K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$37.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.77M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.85M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$15.86M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$19.30M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$20.71M	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`	$22.39M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$17.52M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.76M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$20.28M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$14.91M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$4.77M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.71M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.96M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.58M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.14M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$517.47K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$379.72K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.43M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.48M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.00M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$5.91M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.91M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.48M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.09M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.00M	USD	3 Qtrs
Interest expense	`InterestExpense`	$39.00	USD	1 Quarter
Interest expense	`InterestExpense`	$93.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$123.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$28.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$357.32K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$107.10K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$81.64K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$5.80K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$107.06K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$357.20K	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$5.78K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$81.55K	USD	3 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.55M	USD	3 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.47M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.92M	USD	3 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.98M	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.92M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.47M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.54	USD	3 Qtrs
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.67	USD	3 Qtrs
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.22M	shares	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.26M	shares	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.24M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.27M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.92M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.47M	USD	1 Quarter
Depreciation	`Depreciation`	$287.70K	USD	3 Qtrs
Depreciation	`Depreciation`	$245.69K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$448.95K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.34M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$303.24K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$680.13K	USD	3 Qtrs
Non-cash interest income, net of cash received	`OtherNoncashIncomeExpense`	$29.08K	USD	3 Qtrs
Non-cash interest income, net of cash received	`OtherNoncashIncomeExpense`	-	USD	3 Qtrs
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$170.99K	USD	3 Qtrs
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$144.74K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$102.98K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-64.66K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$70.57K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$172.55K	USD	3 Qtrs
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-17.81K	USD	3 Qtrs
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-18.53K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.29M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.04M	USD	3 Qtrs
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	-	USD	3 Qtrs
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	$4.75M	USD	3 Qtrs
Purchases of property and equipment	`PropertyPlantAndEquipmentAdditions`	$-352.49K	USD	3 Qtrs
Purchases of property and equipment	`PropertyPlantAndEquipmentAdditions`	$-75.49K	USD	3 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.39M	USD	3 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-75.49K	USD	3 Qtrs
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$174.96K	USD	3 Qtrs
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	-	USD	3 Qtrs
Proceeds from employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$58.06K	USD	3 Qtrs
Proceeds from employee stock purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$23.90K	USD	3 Qtrs
Gross proceeds from an ATM offering	`GrossProceedsFromAnAtmOffering`	-	USD	3 Qtrs
Gross proceeds from an ATM offering	`GrossProceedsFromAnAtmOffering`	$154.14K	USD	3 Qtrs
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$-1.30K	USD	3 Qtrs
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$-98.40K	USD	3 Qtrs
Payments for finance leases	`PaymentsForCapitalLeases`	$-4.29K	USD	3 Qtrs
Payments for finance leases	`PaymentsForCapitalLeases`	$-4.32K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$227.43K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$75.32K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$324.99K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.04M	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.70M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$15.94M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$13.70M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	$2.00K	USD	3 Qtrs
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	$7.71K	USD	3 Qtrs

Stockholders Equity 38 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$15.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$19.30M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$20.71M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$23.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$25.35M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$22.39M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$17.52M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$13.76M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$192.25K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$423.19K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$303.24K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$448.95K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$464.65K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$184.65K	USD	1 Quarter
Exercise of common stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$174.96K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.72M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.92M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.47M	USD	1 Quarter
Exercise of common stock options, net of shares withheld for exercise price, amount	`ExerciseOfCommonStockOptionsNetOfSharesWithheldForExercisePriceAmount`	-	USD	1 Quarter
Exercise of common stock options, net of shares withheld for exercise price, amount	`ExerciseOfCommonStockOptionsNetOfSharesWithheldForExercisePriceAmount`	-	USD	1 Quarter
Employee stock purchases, amount	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$23.90K	USD	1 Quarter
Employee stock purchases, amount	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$58.06K	USD	1 Quarter
Issuance of common stock in an at-the-market ("ATM") offering, amount	`StockIssuedDuringPeriodValueNewIssues`	$154.14K	USD	1 Quarter
Issuance costs associated with ATM offering	`IssuanceCostsAssociatedWithAtmOffering`	$-52.11K	USD	1 Quarter
Issuance costs associated with ATM offering	`IssuanceCostsAssociatedWithAtmOffering`	$-75.03K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$15.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$19.30M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$20.71M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$23.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$25.35M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$22.39M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$17.52M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$13.76M	USD	Point-in-time

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