CELSCI Corporation (CVM) Q2 2024 Earnings Report

CELSCI Corporation reported a material quarterly loss for QQ2 2024 with no disclosed revenue. Key drivers of the quarter included ongoing research and development (R&D) outlays of approximately $4.63 million and general and administrative (G&A) costs of about $2.45 million, culminating in an operating loss of roughly $7.08 million and a net loss of $7.24 million (EPS -0.14). EBITDA was negative at approximately -$6.07 million, and the company allocated significant non-cash charges (e.g., stock-based compensation of about $1.82 million and depreciation/amortization of $0.99 million). The result was a weak gross profit of -$0.99 million on a period with no revenue disclosure, indicating a cost structure that is not yet offset by revenue generation from CELSCI’s late-stage and preclinical franchises.

From a liquidity and balance-sheet perspective, CELSCI held cash and cash equivalents of $5.31 million at quarter end, with total assets of about $30.05 million and total liabilities of $15.74 million. The company reports a net debt position of approximately $7.32 million, long-term debt of $10.53 million, and a debt-to-assets ratio of 0.42. The current ratio stood at 1.67 and the cash ratio at 1.04, implying a modest runway contingent upon ongoing financing activity. Notably, accumulated deficits remain substantial (retained earnings deeply negative at approximately -$501.05 million), underscoring the dependence on financing, collaborations, and the progression of CELSCI’s lead assets. Operations generated negative operating cash flow (-$4.53 million) in the quarter, while financing activities provided a net inflow of roughly $6.60 million, resulting in a net cash increase of about $2.07 million and a year-end cash balance of $5.31 million.

Given the absence of reported QQ2 2024 revenue and the current cash burn profile, the near-term investment thesis centers on the potential clinical and licensing milestones of CELSCI’s lead products—most notably Multikine in Phase III for head and neck cancer and the LEAPS platform (preclinical and development programs). The outcome of upcoming trial results, potential licensing or collaboration deals, and any new financing events are the critical catalysts that will determine whether the company can transition to a revenue-generating and financially sustainable trajectory. Investors should monitor trial readouts, partner activity, capital raises, and regulatory developments as primary drivers of risk and potential upside.