<SEC-DOCUMENT>0001296457-25-000004.txt : 20251124
<SEC-HEADER>0001296457-25-000004.hdr.sgml : 20251124
<ACCEPTANCE-DATETIME>20251124160700
ACCESSION NUMBER:		0001296457-25-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251121
FILED AS OF DATE:		20251124
DATE AS OF CHANGE:		20251124

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dalvey David
		CENTRAL INDEX KEY:			0001296457
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38207
		FILM NUMBER:		251512972

	MAIL ADDRESS:	
		STREET 1:		C/O BRADLEY PEDERSON
		STREET 2:		80 SOUTH EIGHTH STREET SUITE 2200
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Celcuity Inc.
		CENTRAL INDEX KEY:			0001603454
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MEDICAL LABORATORIES [8071]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		16305 36TH AVENUE N
		STREET 2:		SUITE 100
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55446
		BUSINESS PHONE:		763-392-0767

	MAIL ADDRESS:	
		STREET 1:		16305 36TH AVENUE N
		STREET 2:		SUITE 100
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55446

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Celcuity LLC
		DATE OF NAME CHANGE:	20140324
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-11242025_091156.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-11-21</periodOfReport>

    <issuer>
        <issuerCik>0001603454</issuerCik>
        <issuerName>Celcuity Inc.</issuerName>
        <issuerTradingSymbol>CELC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001296457</rptOwnerCik>
            <rptOwnerName>Dalvey David</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>16305 36TH AVENUE NORTH</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 100</rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55446</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>1</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100.0011</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>110000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Brightstone Venture Capital Fund, LP</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Brightstone Venture Capital Fund, LP (&quot;Brightstone&quot;) on August 19, 2025.</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price.  These shares were sold in multiple transactions at prices ranging from $100.00 to $100.03, inclusive. The reporting person undertakes to provide Celcuity Inc. (the &quot;Company&quot;), any security holder of the Company, or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F3">The reporting person is the General Partner of Brightstone.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Griffin D. Foster as Attorney-in-Fact for David F. Dalvey pursuant to a Power of Attorney previously filed</signatureName>
        <signatureDate>2025-11-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
