On June 3, Celcuity declined 8.19% in regular trading, trading at $84.11/share, with trading volume of $159 million. The stock extended its sharp selloff following the publication of Phase 3 VIKTORIA-1 clinical data and a newly announced convertible notes offering.

Celcuity announced a public offering of $400 million in convertible senior notes due 2032, with a 30-day overallotment option granted to underwriters. The capital raise compounds dilution concerns atop the prior session's 23.24% decline. The earlier drop came despite positive trial results showing gedatolisib triplet therapy achieved median progression-free survival of 11.1 months versus 5.6 months for the alpelisib plus fulvestrant comparator — a 50% reduction in risk of disease progression or death. The FDA has granted priority review with a PDUFA target date of July 17. Market reaction suggests prior expectations had fully priced in or exceeded the reported data, while the convertible offering introduced additional selling pressure as investors assessed potential equity dilution ahead of a potential commercial launch.

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