On Thursday, Celcuity (CELC 7.66%) issued its final business update and set of financial results for 2025. Investors were particularly encouraged by the clinical-stage biotech's far narrower-than-expected net loss for the year's final quarter, and expressed their appreciation by bidding the stock up by more than 4% on the day.
Upside surprise
Celcuity, which is currently in a pure research and development phase, did not report any revenue for either the fourth quarter or the full-year 2025. During the quarter, its operating expenses increased to over $49 million from over $36 million in the same period of 2024.
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As for the bottom line, net loss not under generally accepted accounting principles (GAAP) deepened, but not alarmingly so, to $38.4 million ($0.73 per share) from the year-ago deficit of $32.3 million.
Analysts tracking the stock were likely not expecting Celcuity to be so disciplined. They were modeling a much deeper net loss of $1.05 per share.
One of the more encouraging aspects of that earnings release was the company's anticipation of topline results from a phase 3 clinical trial of gedatolisib in the treatment of advanced breast cancer. These should be available in the second quarter.
NASDAQ: CELC
Key Data Points
Room to run
Even if Celcuity doesn't hit the target for the promising gedatolisib, it's heartening that it's built a solid cash foundation. Its cash and cash equivalents totaled nearly $166 million at the end of the quarter, up from $22.5 million at end-2024. That should give it plenty of runway, which is always a consideration for pre-revenue biotechs.
With that tailwind at its back and the gedatolisib late-stage trial results (hopefully) coming soon, this is a company packed with promise. Like many market players who bought into it just after that earnings release, I'd be bullish on its future too.
