Celcuity Secures $500M in Upsized Convertible Note Offering
CELC has more than doubled off its 52-week low of $11.085 on elevated volume (5.0× avg).
Summary
Celcuity priced an upsized $500 million public offering of 0.250% convertible senior notes due 2032, an increase from the previously announced $400 million. This significant capital raise follows recent positive Phase 3 trial results for gedatolisib and FDA Priority Review with a PDUFA date of July 17, 2026. The net proceeds of approximately $484.3 million will be used to repay existing debt and fund critical clinical trial and commercial launch expenditures for gedatolisib. This substantially strengthens the company's balance sheet and provides crucial runway for its lead asset, especially after a recent 25% stock plunge. The notes have a favorable 40% conversion premium above the current stock price. The PDUFA date for gedatolisib on July 17, 2026, remains a key upcoming event.
At the time of this announcement, CELC was trading at $87.26 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $4.3B. The 52-week trading range was $11.09 to $151.02. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.