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Commitments | 12 Months Ended
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Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract] |
Commitments | 9. Commitments Operating and Finance Leases The Company leases its corporate space in Minneapolis, Minnesota, with an operating lease in place through April 30, 2026. The lease provides for monthly rent, real estate taxes, and operating expenses. Rent expense is recorded on a straight-line basis over the lease term. In March 2023, the Company signed the fourth amendment to extend this lease through April 30, 2026. This amendment provides for monthly rent, real estate taxes and operating expenses. In May 2018, the Company entered into a non-cancelable finance lease agreement for office equipment with a five-year term. The underlying assets are included in furniture and equipment. The lease contains a bargain purchase option at the end of the lease. The finance lease expired in May 2023 and the equipment was acquired for the bargain purchase option price. When an implicit rate is not provided, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. Supplemental balance sheet information consisted of the following at December 31, 2024: Schedule of Supplemental Balance Sheet Information Related to Leases
Operating Lease |  |  |
Right-of-use assets |  | $ | 215,502 |
Operating lease liability |  | $ | 225,921 |
Less: short term portion |  |  | (171,952 | )
Long term portion |  | $ | 53,969 |
Maturity analysis under lease agreements consisted of the following as of December 31, 2024: Schedule of Maturity Analysis Under Lease Agreements
|  | Operating Leases |
2025 |  | $ | 220,389 |
2026 |  |  | 74,170 |
Total minimum lease payments |  |  | 294,559 |
Less: Present value discount |  |  | (68,638 | )
Present value of net minimum lease payments |  | $ | 225,921 |
Weighted Average |  | Remaining Lease Term |  |  | Discount Rate |
Operating lease |  |  | 1.3 years |  |  |  | 10.5 | %
Lease costs for the period ended December 31: Schedule of Lease Costs
|  |  | 2024 |  |  |  | 2023 |
Operating lease cost |  | $ | 213,104 |  |  | $ | 212,238 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization |  |  | - |  |  |  | 2,411 |
Interest |  |  | - |  |  |  | 4 |
Variable lease cost |  |  | 111,246 |  |  |  | 101,957 |
Lease costs |  | $ | 324,350 |  |  | $ | 316,610 |
Supplemental cash flow information related to leases for the period ended December 31: Schedule of Supplemental Cash Flow Information Related to Leases
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in operating and finance leases: |  |  |  |  |  |  |  |
Operating cash outflow from operating leases |  | $ | 324,783 |  |  | $ | 308,914 |
Operating cash outflow from finance leases |  |  | - |  |  |  | 4 |
Financing cash outflow from finance leases |  |  | - |  |  |  | 2,449 |
Total cash paid for amounts included in operating and finance leases |  | $ | 324,783 |  |  | $ | 311,367 |
Clinical Research Studies The Company enters into contracts in the normal course of business to conduct research and development programs internally and through third parties that include, among others, arrangements with vendors, consultants, CMOs, and CROs. The Company has a license agreement in place with Pfizer to research, develop, manufacture and commercialize gedatolisib. In conjunction with the license agreement, the Company completed a Phase 1b clinical trial – B2151009 related to gedatolisib. These patients subsequently transitioned to an Expanded Access study – CELC-G-001. Contracts related to the Expanded Access study are generally based on time and material. In addition, contracts related to the Company’s Phase 3 clinical studies (VIKTORIA-1 and VIKTORIA-2) and the Phase 1b/2 clinical trial (CELC-G-201) are generally cancelable with reasonable notice within 120 days and the Company’s obligations under these contracts are primarily based on services performed through termination dates plus certain cancelation charges, if any, as defined in each of the respective agreements. In addition, these agreements may, from time to time, be subjected to amendments as a result of any change orders executed by the parties. As of December 31, 2024, the Company had five material non-cancelable contractual commitments with respect to these arrangements, which totaled approximately $9.7 million.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 440 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/440/tableOfContent + Details
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