Celularity Inc.
CELU evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for CELU—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CELU
Celularity Inc. is a clinical-stage biotechnology company focused on developing placentally-derived allogeneic cellular therapies, biomaterials, and biobanking services, currently facing substantial doubt about its ability to continue as a going concern.
Key risk: Going concern uncertainty
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Financial data as of Dec 31, 2025.
Tracking 6 clinical trials for Celularity Inc..
Celularity Inc. is a clinical-stage biotechnology company focused on developing placentally-derived allogeneic cellular therapies, biomaterials, and biobanking services, currently facing substantial doubt about its ability to continue as a going concern.
- Cash and equivalents of $16.4M as of 2025-12-31 [sec].
- Total revenue of $4.1M for the year ended 2025-12-31 [sec].
- Net loss of $24.4M for the year ended 2025-12-31 [sec].
- Shareholders' equity of $8.8M and total debt of $33.8M as of 2025-12-31 [sec].
- The company has not generated any revenue from cellular therapeutic product sales and is not actively developing any cellular therapeutics in its pipeline due to liquidity constraints [sec_mda · as of 2025-11-14].
What works
- The company is evaluating commercialization of investigational cellular therapies, including cenplacel-L, in jurisdictions that permit use outside traditional regulatory approval pathways [sec_mda · as of 2026-04-30].
- The company has existing biomaterials product sales and biobanking and degenerative disease businesses that generate some revenue [sec_mda · as of 2026-04-30].
What to weigh
- The company has expressed substantial doubt about its ability to continue as a going concern, with no available additional sources of outside capital to sustain operations for 12 months [sec_mda · as of 2025-11-14].
- Celularity has not had any cellular therapeutics approved for sale and is not actively developing any cellular therapeutics in its pipeline given its liquidity [sec_mda · as of 2025-11-14].
- Total other expense increased by $10.9M (55.7%) in 2025 compared to 2024, driven by changes in fair value of warrant liabilities, loss on issuance of convertible note, and other items [sec_mda · as of 2026-04-30].
From the filings
Quoted directly from source documents.
Substantial doubt about going concern
“unrestricted cash and cash equivalents available to fund our operations and no available additional sources of outside capital to sustain our operations for a period of 12 months beyond the issuance date. These uncertainties raise substantial doubt about our ability to continue as a going concern.”
SEC MD&A · November 14, 2025
No cellular therapeutics approved or in active development
“To date, we have not had any cellular therapeutics approved for sale and have not generated any revenues from the sale of our cellular therapeutics and we are not actively developing any cellular therapeutics in our pipeline given our liquidity.”
SEC MD&A · November 14, 2025
Evaluating commercialization of cenplacel-L in certain jurisdictions
“We are evaluating and pursuing commercialization of certain investigational cellular therapies, including cenplacel-L, in jurisdictions that permit the use of such products outside of traditional regulatory approval pathways, subject to applicable local laws and regulations.”
SEC MD&A · April 30, 2026
Risks & what to watch (3)›
Key risks
- Going concern uncertainty — The company has no additional outside capital to sustain operations for 12 months, raising substantial doubt about its ability to continue as a going concern [sec_mda · as of 2025-11-14].
- No approved cellular therapeutics — No cellular therapeutics have been approved for sale, and the company is not actively developing any due to liquidity constraints [sec_mda · as of 2025-11-14].
- Increasing other expenses — Total other expense increased by 55.7% in 2025 compared to 2024, driven by warrant liabilities, convertible note losses, and debt extinguishment [sec_mda · as of 2026-04-30].
What to watch
- Ability to secure additional financing or capital sources to address going concern [sec_mda · as of 2025-11-14].
- Progress in commercialization of cenplacel-L in jurisdictions outside traditional regulatory pathways [sec_mda · as of 2026-04-30].
- Revenue trends from biomaterials and biobanking businesses [sec_mda · as of 2026-04-30].
Sources: SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
9.6 months
OCF -$5M · Net income -$24M
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Runway
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
35
Total value held
$2.6M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 1,242,210 | $1.7M |
| geode capital management, llc | 191,076 | $254K |
| blackrock, inc. | 127,501 | $170K |
| vanguard fiduciary trust co | 79,874 | $106K |
| state street corp | 57,830 | $77K |
| valmark advisers, inc. | 49,983 | $66K |
| northern trust corp | 44,163 | $59K |
| keynote financial services llc | 29,320 | $39K |
| royal bank of canada | 18,000 | $24K |
| centerstar asset management, llc | 17,850 | $24K |
Showing top 10 of 35 institutional holders of Celularity Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 4.1%
- Days to cover
- 8.0
- Shares short
- 275,407
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CELU short interestGovernance
Frequently asked questions
What is the AI investment thesis for Celularity Inc.?
Celularity Inc. is a clinical-stage biotechnology company focused on developing placentally-derived allogeneic cellular therapies, biomaterials, and biobanking services, currently facing substantial doubt about its ability to continue as a going concern.
Who is the CEO of Celularity Inc.?
Dr. Robert Joseph Hariri M.D., Ph.D. is the chief executive officer of Celularity Inc. (CELU).
Where is Celularity Inc. headquartered?
Celularity Inc. (CELU) is headquartered in Florham Park, NJ, United States.
What therapeutic areas does Celularity Inc. focus on?
Celularity Inc. develops therapies across Oncology, Immunology, Cardiovascular, Infectious Disease, Metabolic, Respiratory, Pain.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.