Celcuity

Q2 FY2026 EarningsQ2 FY26 resulted in a significant net loss miss relative to consensus: GAAP EPS of -$1.44 vs. -$1.16 expected, and a net loss of $78.9M vs. the $60.5M consensus. While revenue remained at $0.0M in line with expectations, the variance was driven by a 361% YoY surge in SG&A expenses ($35.0M) due to pre-launch commercial infrastructure for REVTORPYK. Management secured $557.2M in net proceeds from a 2032 convertible note offering in June, extending the cash runway into 2029 following the FDA approval of REVTORPYK on July 14, 2026.