aibioCelularity delays 2024 annual report, citing liquidity and staffing constraints
Tickers CELU
Celularity expects 2024 revenue of $54.2 million and a loss from operations of $37.3 million, figures it says are still under review.
Key facts
- Company
- Celularity Inc. (NASDAQ: CELU)
- News type
- Distress
- Primary source
- Celularity Inc. NT 10-K (2025-03-31)
Celularity Inc. said on March 31, 2025 that it could not file its annual report on Form 10-K for the year ended December 31, 2024 on time.
The company filed a Form 12b-25, a notification of late filing that gives a short extension. For an annual report, the extension runs to the 15th calendar day after the due date. Celularity said "constraints in Celularity's liquidity position and financial accounting staffing levels" delayed its financial close and the preparation of its consolidated financial statements. It plans to file as soon as practicable.
The company gave preliminary figures. It expects total net revenues for 2024 of $54.2 million, an increase of $31.4 million, or 138.1%, from the prior year. It said sales of Biovance 3L and Rebound drove the increase.
Total operating expenses are expected to be $91.5 million, a decrease of $123.5 million, or 57.4%, compared to 2023. Celularity said 2023 included goodwill and IPR&D impairment charges of $112.3 million and $107.8 million. There were no such impairments in 2024.
Loss from operations is expected to be $37.3 million, a decrease of $155.0 million, or 80.6%. Celularity said the amounts are still under review and may differ in the final report.
Among its risk factors, the company listed the possibility that it will not file within the extension and that the review may identify errors or control deficiencies. The notice is available as a Form 12b-25.