10-Q · May 14, 2026
Celcuity reported an actual net loss of $52.8 million for Q1 2026, translating to a diluted EPS of -$0.73, exceeding estimates by 29%. Operating expenses surged to $50.5 million, largely driven by increased R&D and SG&A…
Earnings analysis · 10-Q
CELC earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Celcuity remained pre-commercial in Q2 2026, reporting $0 revenue and adjusted EPS of -$1.07, which modestly beat the -$1.08 consensus estimate. The late Q3 2026 REVTORPYK launch outlook was maintained, and $557.2…
Read full summary
Celcuity remained pre-commercial in Q2 2026, reporting $0 revenue and adjusted EPS of -$1.07, which modestly beat the -$1.08 consensus estimate. The late Q3 2026 REVTORPYK launch outlook was maintained, and $557.2 million of net financing proceeds improved liquidity. However, operating cash use of $55.4 million and operating expenses of $66.1 million underscore substantial cash-burn and execution risks ahead of commercialization.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.07
What stood out
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EPS modestly beat consensus
Revenue was $0, compared with the $400,000 consensus estimate, while adjusted EPS was -$1.07 versus the -$1.08 estimate, a modest $0.01 beat.
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Late Q3 2026 launch remains on track
Management continued to expect REVTORPYK commercial launch and initial shipments in late Q3 2026; no quantitative revenue outlook was disclosed.
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$557.2M of financing proceeds
The company reported $557.2 million of net financing proceeds, materially strengthening near-term liquidity for commercialization and development activities.
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VIKTORIA-1 showed stronger PFS
VIKTORIA-1 clinical results showed stronger progression-free survival, supporting the company’s clinical and regulatory objectives.
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Controls remained effective
Management concluded disclosure controls were effective as of June 30, 2026, and reported 0 material changes to internal control over financial reporting during the quarter.
What to watch
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No commercial revenue
Revenue was $0 versus the $400,000 estimate, highlighting the company’s continued pre-commercial status and dependence on the late Q3 2026 REVTORPYK launch.
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Elevated cash burn
Operating cash use was $55.4 million, indicating elevated cash burn ahead of commercialization and increasing dependence on available financing.
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Higher operating expenses
Operating expenses were $66.1 million, increasing the scale of losses before product revenue begins.
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No change to disclosed risks
The filing reported 0 material changes to the risk factors previously disclosed in the 2025 10-K; therefore, no new risk-factor mitigation or reduction was identified.
Management's outlook
No numeric revenue or EPS guidance was provided. Management maintained its outlook for REVTORPYK commercial launch and initial shipments in late Q3 2026.
Earlier filings 4
10-K · March 26, 2026
Celcuity is a clinical-stage oncology company whose lead candidate, gedatolisib, produced positive Phase 3 VIKTORIA-1 PIK3CA WT results and led to FDA acceptance of an NDA with Priority Review (PDUFA July 17, 2026). The…
10-Q · May 16, 2022
Celcuity reported a wider Q1 net loss of $7,934,447 (Q1 2021: $2,791,668) and loss per share of $(0.53) (Q1 2021: $(0.25)), driven by a large increase in R&D spend to $6,696,313 (Q1 2021: $2,236,342). Cash declined to…
10-Q · November 9, 2021
Celcuity reported no revenues and a wider quarterly loss: Q3 net loss was $(6,027,246) or $(0.41) per share versus $(2,474,298) or $(0.24) in the prior-year quarter. R&D spending accelerated to $4,960,515 (Q3 2021) as…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.