Celcuity (NASDAQ:CELC) is a clinical-stage biotechnology company. This means it focuses on developing new drugs that are still in the testing phase. Celcuity's main work is in oncology, with a key focus on its experimental drug, gedatolisib, for treating advanced breast cancer.
An analyst from Craig-Hallum has adjusted their outlook on Celcuity, lowering the price target to $171. A price target is an analyst's estimate of a stock's future value. This new target, however, still indicates a potential 91.88% increase from the stock's price of $89.12 at the time of the rating.
Despite the analyst's positive long-term view, Celcuity shares recently fell by over 25%. This significant drop followed the release of data from its Phase 3 VIKTORIA-1 clinical trial. A Phase 3 trial is a critical, late-stage test to confirm a drug's effectiveness and safety before seeking government approval.
The data presented a mixed picture. As highlighted by Reuters, the stock declined because the treatment underperformed results from a previous trial. However, GlobeNewswire reports that the drug, gedatolisib, doubled the likelihood of survival without the disease getting worse compared to current treatments for some patients.
The trial showed a median progression-free survival (PFS) of 11.1 months for patients on a gedatolisib regimen, compared to 5.6 months for those on the current standard care. Progression-free survival measures the time a patient lives with a disease without it worsening. Celcuity expects to seek FDA approval by July 2026.
