The following is a summary of the Celcuity Inc. (CELC) Q4 2023 Earnings Call Transcript:
Financial Performance:
Celcuity's Q4 net loss was $18.8 million, an increase from its loss of $11.6 million in Q4 2022.
The net loss for the full year 2023 was $63.8 million, compared to a net loss of $40.4 million in 2022.
Full year 2023's research and development expenses were $60.6 million, up from $35.3 million in the previous year.
General and administrative expenses for 2023 were $5.6 million, compared to $4.1 million in 2022.
The company ended the year with about $180.6 million in cash, cash equivalents, and short-term investments.
Business Progress:
The development of gedatolisib advanced and the balance sheet and team were strengthened.
The Phase 3 VIKTORIA-1 trial is expected to report top line data for a specific patient sub-group in the second half of this year.
Celcuity initiated the development of gedatolisib for metastatic castration resistant prostate cancer patients and launched its Phase 1b/2 trial.
The company's potential target population for services is over 100,000 breast cancer patients per year.
A Chief Commercial Officer was recently hired to build out a commercial team, factoring expansion costs into the budget and cash forecast for the year.
Celcuity's patent portfolio includes 11 approved patents and several pending ones for Gedatolisib, ensuring exclusivity until December 2034 for their active pharmaceutical ingredient and until December 2039 for their formulation.
More details: Celcuity IR
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