$CELC
Celcuity Inc

2022 Q4 Form 10-Q Financial Statement

#000149315222031433 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.035M $1.022M $639.3K
YoY Change 24.74% 59.88% 22.94%
% of Gross Profit
Research & Development $10.60M $9.622M $4.961M
YoY Change 93.12% 93.96% 152.75%
% of Gross Profit
Depreciation & Amortization $48.94K $53.54K $63.61K
YoY Change -22.35% -15.83% -36.39%
% of Gross Profit
Operating Expenses $11.64M $10.64M $5.600M
YoY Change 84.14% 90.07% 125.79%
Operating Profit -$10.64M -$5.600M
YoY Change 90.07% 125.79%
Interest Expense $57.86K $537.7K -$427.5K
YoY Change -113.37% -225.78% -1526742.86%
% of Operating Profit
Other Income/Expense, Net -$250.2K -$427.5K
YoY Change -41.48% -7499.34%
Pretax Income -$11.58M -$10.89M -$6.027M
YoY Change 71.49% 80.74% 143.59%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$11.58M -$10.89M -$6.027M
YoY Change 71.49% 80.74% 143.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.75 -$0.41
Diluted Earnings Per Share -$0.69 -$729.3K -$405.1K
COMMON SHARES
Basic Shares Outstanding 15.46M shares 14.94M shares 14.90M shares
Diluted Shares Outstanding 14.94M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $168.6M $57.48M $90.37M
YoY Change 100.02% -36.39% 559.61%
Cash & Equivalents $24.57M $57.48M $90.37M
Short-Term Investments $144.0M
Other Short-Term Assets $6.399M $6.949M $459.4K
YoY Change 734.52% 1412.85% 282.8%
Inventory
Prepaid Expenses $6.344M $6.578M
Receivables
Other Receivables
Total Short-Term Assets $175.2M $64.69M $91.18M
YoY Change 105.26% -29.05% 550.75%
LONG-TERM ASSETS
Property, Plant & Equipment $260.3K $302.0K $655.1K
YoY Change -16.69% -53.9% 4.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $506.6K $597.5K $655.1K
YoY Change -8.62% -8.79% -27.37%
TOTAL ASSETS
Total Short-Term Assets $175.2M $64.69M $91.18M
Total Long-Term Assets $506.6K $597.5K $655.1K
Total Assets $175.7M $65.29M $91.84M
YoY Change 104.52% -28.91% 515.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.627M $3.168M $1.746M
YoY Change 74.31% 81.41% 2000.84%
Accrued Expenses $4.060M $3.278M $1.070M
YoY Change 405.71% 206.3% 41.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.450K $3.920K $5.840K
YoY Change -58.12% -32.88% -41.6%
Total Short-Term Liabilities $6.882M $6.645M $2.823M
YoY Change 174.64% 135.43% 172.66%
LONG-TERM LIABILITIES
Long-Term Debt $34.98M $15.01M $14.43M
YoY Change 139.15% 4.03% 144217.3%
Other Long-Term Liabilities $61.00K $107.8K $108.9K
YoY Change -1.25% -1.0% -0.98%
Total Long-Term Liabilities $35.04M $15.12M $14.54M
YoY Change 138.56% 3.99% 12017.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.882M $6.645M $2.823M
Total Long-Term Liabilities $35.04M $15.12M $14.54M
Total Liabilities $41.93M $21.77M $17.36M
YoY Change 143.81% 25.36% 1407.23%
SHAREHOLDERS EQUITY
Retained Earnings -$96.30M -$84.72M
YoY Change 72.18%
Common Stock $21.67K $14.94K
YoY Change 45.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $133.8M $43.53M $74.47M
YoY Change
Total Liabilities & Shareholders Equity $175.7M $65.29M $91.84M
YoY Change 104.52% -28.91% 515.78%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$11.58M -$10.89M -$6.027M
YoY Change 71.49% 80.74% 143.59%
Depreciation, Depletion And Amortization $48.94K $53.54K $63.61K
YoY Change -22.35% -15.83% -36.39%
Cash From Operating Activities -$9.479M -$9.307M -$4.049M
YoY Change 54.79% 129.87% 145.38%
INVESTING ACTIVITIES
Capital Expenditures $112.1K -$12.10K -$14.06K
YoY Change -1227.26% -13.94% 40.6%
Acquisitions
YoY Change
Other Investing Activities -$143.9M $0.00 $0.00
YoY Change
Cash From Investing Activities -$144.0M -$12.10K -$14.06K
YoY Change 1448441.95% -13.94% 40.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 120.6M -108.2K 52.79M
YoY Change 225188.94% -100.2% -75515.63%
NET CHANGE
Cash From Operating Activities -9.479M -9.307M -4.049M
Cash From Investing Activities -144.0M -12.10K -14.06K
Cash From Financing Activities 120.6M -108.2K 52.79M
Net Change In Cash -32.91M -9.427M 48.73M
YoY Change 441.28% -119.35% -2916.66%
FREE CASH FLOW
Cash From Operating Activities -$9.479M -$9.307M -$4.049M
Capital Expenditures $112.1K -$12.10K -$14.06K
Free Cash Flow -$9.591M -$9.295M -$4.035M
YoY Change 56.87% 130.37% 146.01%

Facts In Submission

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us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Amortization Of Financing Costs And Discounts
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us-gaap Paid In Kind Interest
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Stock Options Exercised
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CELC Proceeds From Employee Stock Purchases
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CELC Proceeds From Employee Stock Purchases
ProceedsFromEmployeeStockPurchases
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CELC Proceeds From Follow On Offering Net Of Underwriting Discounts And Offering Costs
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CY2022Q3 us-gaap Debt Instrument Unamortized Discount Current
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us-gaap Proceeds From Debt Net Of Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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CELC Gross Proceeds From An Atm Offering
GrossProceedsFromAnAtmOffering
38962 usd
CELC Payments For Registration Statement Costs
PaymentsForRegistrationStatementCosts
318897 usd
CELC Payments For Registration Statement Costs
PaymentsForRegistrationStatementCosts
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CELC Payments For Finance Leases
PaymentsForFinanceLeases
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CELC Payments For Finance Leases
PaymentsForFinanceLeases
4353 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-226970 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
454573 usd
CELC Property And Equipment Included In Accounts Payable
PropertyAndEquipmentIncludedInAccountsPayable
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CELC Offering And Registration Statement Costs Included In Accounts Payable
OfferingAndRegistrationStatementCostsIncludedInAccountsPayable
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CELC Deferred Financing Costs And Offering And Registration Statement Costs Included In Accrued Expenses
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205000 usd
us-gaap Stock Issued1
StockIssued1
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us-gaap Use Of Estimates
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<p id="xdx_84A_eus-gaap--UseOfEstimates_zjVRsRnV9Mwk" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_861_z89nW2pJ8Wxe">Accounting Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font: normal 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management uses estimates and assumptions in preparing these unaudited condensed financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates and the difference could be material. Significant items subject to such estimates and assumptions include the valuation of stock-based compensation and prepaid or accrued clinical trial costs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
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CY2022Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
271988 usd
CELC Deemed Dividend
DeemedDividend
272000 usd
CY2022Q3 CELC Deemed Dividend
DeemedDividend
272000 usd
CY2022Q3 CELC Increased Net Loss Per Share Basic And Diluted
IncreasedNetLossPerShareBasicAndDiluted
0.02
CELC Increased Net Loss Per Share Basic And Diluted
IncreasedNetLossPerShareBasicAndDiluted
0.02
CY2020Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
197211 usd
CY2021Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
193571 usd
CY2022Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
195437 usd
CY2022Q3 us-gaap Contractual Obligation
ContractualObligation
2500000 usd
CY2022Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2025-09-19
CY2022Q3 CELC Estimated Incremental Fair Value Of Warrants
EstimatedIncrementalFairValueOfWarrants
271988 usd
CY2022Q3 CELC Sale Of Stock Transaction Fee
SaleOfStockTransactionFee
142241 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q3 CELC Employee Service Share Based Compensation Non Vested Awards Compensation Cost Not Yet Recognized Remainder Of Fiscal Year
EmployeeServiceShareBasedCompensationNonVestedAwardsCompensationCostNotYetRecognizedRemainderOfFiscalYear
1116837 usd
CY2022Q3 CELC Employee Service Share Based Compensation Non Vested Awards Compensation Cost Not Yet Recognized Within Two Year
EmployeeServiceShareBasedCompensationNonVestedAwardsCompensationCostNotYetRecognizedWithinTwoYear
3277254 usd
CY2022Q3 CELC Employee Service Share Based Compensation Non Vested Awards Compensation Cost Not Yet Recognized Within Three Years
EmployeeServiceShareBasedCompensationNonVestedAwardsCompensationCostNotYetRecognizedWithinThreeYears
2130739 usd
CY2022Q3 CELC Employee Service Share Based Compensation Non Vested Awards Compensation Cost Not Yet Recognized Within Four Years
EmployeeServiceShareBasedCompensationNonVestedAwardsCompensationCostNotYetRecognizedWithinFourYears
1333749 usd
CY2022Q3 CELC Employee Service Share Based Compensation Non Vested Awards Compensation Cost Not Yet Recognized Within Five Years
EmployeeServiceShareBasedCompensationNonVestedAwardsCompensationCostNotYetRecognizedWithinFiveYears
176866 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
8035445 usd
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1223054 usd
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
699916 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3498784 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1689331 usd
CY2022Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
100000000 usd
CY2022Q3 CELC Prepayment Fee Percentage
PrepaymentFeePercentage
0.030 pure
CY2022Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
15000000 usd
CY2022Q3 CELC Payment In Kind Interest Debt
PaymentInKindInterestDebt
611765 usd
CY2022Q3 CELC Notes Payable Final Fee
NotesPayableFinalFee
675000 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
481304 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
792054 usd
CY2022Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
15013407 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5854412 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7805882 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2626471 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
16286765 usd

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