Q3 2024 Celcuity Inc Earnings Call Transcript

Nov 14, 2024 / 09:30 PM GMT

Release Date Price: $14.11 (-3.62%)

Transcript 10-Q8-K

Key Points

Positve

Celcuity Inc (CELC) achieved 100% enrollment in the P3CA wild type cohort for their Victoria 1 phase three clinical trial, marking a significant milestone.
The company is on track to enroll its first patient in the Victoria 2 phase three clinical trial by the second quarter of 2025.
Celcuity Inc (CELC) reported promising safety profiles for their treatment, with a low treatment-related discontinuation rate of 4% in the phase one B arm.
The company has a strong cash position, ending the quarter with approximately $264.1 million in cash, cash equivalents, and short-term investments.
Celcuity Inc (CELC) has received encouraging feedback from oncologists and market access stakeholders regarding the potential of their treatment, Geta Tlic.

Negative

Celcuity Inc (CELC) reported a net loss of $29.8 million for the third quarter of 2024, an increase from the $18.4 million net loss in the same quarter of 2023.
Research and development expenses increased significantly by $10.1 million compared to the previous year, impacting overall financial performance.
The company faces uncertainties related to event rates in their clinical trials, which could affect timelines and outcomes.
General and administrative expenses rose to $2.5 million, up from $1.4 million in the third quarter of 2023, indicating increased operational costs.
Celcuity Inc (CELC) operates in a competitive landscape with evolving treatment options, which could impact the market potential of their therapies.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CELC.OQ - Celcuity Inc
Q3 2024 Celcuity Inc Earnings Call
Nov 14, 2024 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen and welcome to the CCU third quarter, 2024 financial results conference call at this time. All lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during the call, you require immediate assistance. Please press star zero for the operator. This call is being recorded. November 14th 2024.

I would now like to turn the call over to Aor Vri.

Please go ahead.

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Unidentified_2 [2]
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Thank you operator and good afternoon to everyone on the call. Thank you

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