Celcuity Announces $60 Million Stock Offering

Celcuity Inc. (NASDAQ: CELC) has announced the pricing of an underwritten offering of 3,871,000 shares of its common stock at an offering price of $15.50 per share, resulting in expected gross proceeds of $60.0 million. The company plans to utilize the net proceeds for various purposes, including working capital, general corporate purposes, capital expenditures, research and development expenditures, and clinical trial expenditures.

Celcuity expects that its existing cash, cash equivalents, short-term investments, and available borrowings, combined with the net proceeds from this offering, will be adequate to fund its operating expenses and capital expenditure requirements through at least the second half of 2026.

The clinical-stage biotechnology company's lead therapeutic candidate is gedatolisib, a potent, pan-PI3K and mTOR inhibitor. Celcuity is currently enrolling patients in a Phase 3 clinical trial, VIKTORIA-1, evaluating gedatolisib in combination with fulvestrant with or without palbociclib in patients with HR+/HER2* advanced breast cancer. Additionally, a Phase 1b/2 clinical trial, CELC-G-201, evaluating gedatolisib in combination with darolutamide in patients with metastatic castration-resistant prostate cancer, is also enrolling patients.

Furthermore, Celcuity's Phase 3 clinical trial, VIKTORIA-2, which is expected to begin enrolling patients in the second quarter of 2025, will evaluate gedatolisib plus a CDK4/6 inhibitor and fulvestrant as first-line treatment for patients with HR+/HER2* advanced breast cancer. The company's Celsignia companion diagnostic platform uniquely analyzes live patient tumor cells to identify new groups of cancer patients likely to benefit from already approved targeted therapies.

The offering is being made pursuant to a registration statement on Form S-3 previously filed with and declared effective by the U.S. Securities and Exchange Commission (SEC). The joint bookrunning managers for the offering are Leerink Partners, TD Cowen, and Stifel.

Celcuity is headquartered in Minneapolis and is focused on the development of targeted therapies for the treatment of multiple solid tumor indications. As a result of these announcements, the company's shares have moved 4.6% on the market, and are now trading at a price of $15.8. For the full picture, make sure to review Celcuity's 8-K report.

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