Celcuity Inc. ( (CELC) ) has released its Q4 earnings. Here is a breakdown of the information Celcuity Inc. presented to its investors.
Celcuity Inc. is a clinical-stage biotechnology company focused on developing targeted therapies for oncology, with its lead candidate gedatolisib being evaluated in multiple clinical trials for solid tumor indications.
In its latest earnings report, Celcuity Inc. announced its financial results for the fourth quarter and full year of 2024, alongside significant updates on its clinical trials. The company highlighted its progress in the VIKTORIA-1 and VIKTORIA-2 Phase 3 trials and shared encouraging preliminary data from its Phase 1b study.
Key financial metrics revealed a significant increase in operating expenses, primarily driven by research and development activities, which rose to $36.4 million in Q4 2024 from $19.7 million in the same period the previous year. The company’s net loss also widened to $36.7 million in Q4 2024, compared to $18.8 million in Q4 2023. Despite these losses, Celcuity maintains a strong cash position with $235.1 million in cash, cash equivalents, and short-term investments, expected to support its clinical programs through 2026.
Strategically, Celcuity is on track with its clinical trials, expecting to report topline data for the PIK3CA wild-type cohort of the VIKTORIA-1 trial in Q2 2025 and for the PIK3CA mutant-type cohort in Q4 2025. The VIKTORIA-2 trial is also set to begin patient enrollment in Q2 2025, with site selection activities already completed.
Looking ahead, Celcuity’s management anticipates 2025 to be a pivotal year with multiple clinical data readouts expected. The company remains focused on advancing its clinical trials and leveraging its strong cash reserves to drive its development programs forward.