10-Q Filing

CELCUITY INC. CIK: 1603454 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001654954-21-005361`
Period End Date	20210331
Filing Date	20210510
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	celc_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 26 Cash Flow Statement 50 Stockholders Equity 17

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`	$34.94M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.85M	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$22.01K	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
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred transaction costs	`DeferredCostsCurrent`	$13.72K	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
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`	12.29M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.30M	shares	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$317.04K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrent`	$551.35K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.30M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.29M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$35.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.17M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$466.48K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$558.88K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$230.91K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$186.60K	USD	Point-in-time
Total Assets	`Assets`	$36.37M	USD	Point-in-time
Total Assets	`Assets`	$12.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$217.38K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$318.21K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.82K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$5.81K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$187.52K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$185.66K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$774.61K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$660.85K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.19M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$8.30K	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$6.84K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$15.14K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$60.86K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.25M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.19M	USD	Point-in-time
Preferred stock, $0.001 par value: 2,500,000 shares authorized; 0 shares issued and outstanding as of March 31, 2021 and December 31, 2020	`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, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 12,287,896 and 10,299,822 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$10.30K	USD	Point-in-time
Common stock, $0.001 par value: 25,000,000 shares authorized; 12,287,896 and 10,299,822 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$12.29K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$64.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.32M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$19.30M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$17.52M	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 Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$12.96M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$36.37M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.85M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.24M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$463.40K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$555.43K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.79M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.31M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.79M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.31M	USD	1 Quarter
Interest expense	`InterestExpense`	$33.00	USD	1 Quarter
Interest expense	`InterestExpense`	$24.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$63.85K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$388.00	USD	1 Quarter
Loss on sale of fixed assets	`LossOnSaleOfFixedAssets`	-	USD	1 Quarter
Loss on sale of fixed assets	`LossOnSaleOfFixedAssets`	$263.00	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$101.00	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$63.82K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.79M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.25M	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefits	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.07M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.25M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Depreciation	`Depreciation`	$94.79K	USD	1 Quarter
Depreciation	`Depreciation`	$98.22K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$449.10K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$464.65K	USD	1 Quarter
Loss on sale of fixed assets	`GainLossOnDispositionOfAssets`	$263.00	USD	1 Quarter
Loss on sale of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-62.65K	USD	1 Quarter
Prepaid assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-234.31K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-92.20K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$73.92K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-113.76K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$30.14K	USD	1 Quarter
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-3.28K	USD	1 Quarter
Non-cash operating lease, net	`IncreaseDecreaseInNonCashOperatingLeaseExpense`	$-21.34K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.83M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.52M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.93K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$45.60K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$500.00	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.60K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.43K	USD	1 Quarter
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$11.26K	USD	1 Quarter
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from follow-on offering, net of underwriting discounts and offering costs	`ProceedsFromFollowOnOfferingNetOfUnderwritingDiscountsAndOfferingCosts`	$25.81M	USD	1 Quarter
Proceeds from follow-on offering, net of underwriting discounts and offering costs	`ProceedsFromFollowOnOfferingNetOfUnderwritingDiscountsAndOfferingCosts`	-	USD	1 Quarter
Gross proceeds from an ATM offering	`GrossProceedsFromAnAtmOffering`	$38.96K	USD	1 Quarter
Gross proceeds from an ATM offering	`GrossProceedsFromAnAtmOffering`	-	USD	1 Quarter
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	-	USD	1 Quarter
Payments for secondary registration statement costs	`PaymentsForRegistrationStatementCosts`	$12.02K	USD	1 Quarter
Payments for finance leases	`PaymentsForFinanceLeases`	$1.44K	USD	1 Quarter
Payments for finance leases	`PaymentsForFinanceLeases`	$1.45K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.44K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.85M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.30M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.88M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.94M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.64M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.85M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$34.94M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$18.74M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$11.64M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$16.85M	USD	Point-in-time
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	$14.10K	USD	1 Quarter
Property and equipment included in accounts payable	`LiabilitiesAssumed1`	-	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`	$6.13K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$19.30M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$17.52M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$35.17M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$464.65K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$449.10K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.25M	USD	1 Quarter
Exercise of common stock warrants, amount	`ExerciseOfCommonStockWarrantsAmount`	$11.26K	USD	1 Quarter
Exercise of common stock options, net of shares withheld for exercise price, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Issuance of common stock upon closing of follow-on offering, net of underwriting discounts and offering costs, amount	`StockIssuedDuringPeriodValueOther`	$25.77M	USD	1 Quarter
Issuance of common stock in an at-the-market ("ATM") offering, amount	`StockIssuedDuringPeriodValueNewIssues`	$38.96K	USD	1 Quarter
Issuance costs associated with ATM offering	`IssuanceCostsAssociatedWithAtmOffering`	$-3.87K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$19.30M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$17.52M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$11.70M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$35.17M	USD	Point-in-time

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