secwatch.observer — SEC 8-K summary
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Issuer:     Celcuity Inc. (CELC)
CIK:        0001603454
Form:       8-K
Filed at:   2024-05-30T23:59:59+00:00
Accession:  0001493152-24-021864
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 8.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Celcuity secures up to $180M debt financing, plans Phase 3 gedatolisib trial in HR+/HER2- breast cancer
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- New A&R Loan Agreement with Innovatus and Oxford provides up to $180M; $100M funded including $61.7M new borrowings.
- Loan matures May 2029; interest-only for 36 months (extendable to 48 months) at Prime + 2.85% (floor 7.75%).
- Phase 3 VIKTORIA-2 trial to enroll ~638 HR+/HER2- ABC patients; first patient expected Q2 2025.
- Trial design allows investigator choice of ribociclib or palbociclib; FDA concurred in Type C meeting.
- Warrants issued equal to 2.5% of each tranche; Innovatus can convert up to 20% of Term A at $10.00/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603454/000149315224021864/0001493152-24-021864-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603454/000149315224021864/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-021864

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer