Celcuity Inc. announced its financial results for the first quarter ended March 31, 2025, reporting increased operating expenses and net loss as it continued to invest in its clinical pipeline. Total operating expenses for Q1 2025 were $36.1 million, up from $22.5 million in Q1 2024.
Research and development (R&D) expenses increased by $11.6 million to $32.2 million in Q1 2025, primarily due to higher employee and consulting expenses and ongoing clinical trial activities. General and administrative (G&A) expenses also rose to $3.9 million.
The net loss for Q1 2025 was $37.0 million, or $0.86 loss per share, compared to a net loss of $21.6 million, or $0.64 loss per share, for Q1 2024. Net cash used in operating activities for the quarter was $35.9 million.
As of March 31, 2025, Celcuity held $205.7 million in cash, cash equivalents, and short-term investments, which is expected to fund operations through 2026. The company updated its guidance, now expecting topline data for the PIK3CA wild-type cohort of the VIKTORIA-1 trial in Q3 2025, a slight delay from the previous Q2 2025 projection.
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