Celcuity (CELC) Announces Proposed Common Share Offering

Celcuity Inc. (NASDAQ: CELC), a clinical stage biotechnology company translating discoveries of new cancer sub-types into 3^rd generation diagnostics and expanded therapeutic options for cancer patients, today announced that it has commenced an underwritten public offering of $20 million of shares of common stock. In connection with this offering, Celcuity expects to grant the underwriter of the offering a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All of the shares in the offering will be sold by Celcuity. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Celcuity intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include capital expenditures, research and development expenditures, clinical trial expenditures, expansion of business development activities and other general corporate purposes.

Craig-Hallum Capital Group is acting as the sole managing underwriter for this offering.

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