CREATIVE MEDICAL TECHNOLOGY HOLDINGS INC
For the period ended Jun 30, 2024. Filed Aug 9, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 9, 2024
CELZ$0.62+2.6%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-03-31; filed 2024-05-10.
0001477932-24-002695
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-06-30; filed 2024-08-09.
0001477932-24-004635
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 40 previous paragraphs and 52 current paragraphs.
26 unchanged; 14 reworded; 8 added; 0 removed; 0 previous and 4 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (8)
Current report
In June 2024, the Company announced that it has successfully generated human induced pluripotent stem cells (iPSC)-derived Islet Cells that produce human insulin. The Company believes this development has the potential for not only clinical translation of the human Islet Cells, but also the stand-alone human insulin which is produced by these cells.
Current report
During the second quarter of 2024, the Company selected and contracted with the clinical trial site and Contract Research Organization (CRO), initiated the clinical trial site and launched patient recruitment on the Phase I/II clinical trial of AlloStemSpine™ Chronic Lower Back Pain (CELZ-201 ADAPT) using AlloStem™ (CELZ-201-DDT) for the treatment of lower back pain.
Current report
Selling, General and Administrative Expenses. General and administrative expenses for the three-months ended June 30, 2024, totaled $676,086, in comparison with $859,537 for the comparable period a year ago. The decrease of $183,451, or 21% is primarily due to decreases of $67,103 in marketing, $62,049 in marketing-based compensation, $30,736 in Director and Officer (D&O) insurance, and $31,000 in professional fees.
Current report
Other Income. Other income for the three-months ended June 30, 2024, totaled $67,578 in comparison with $89,913 for the comparable period a year ago. The decreased income of $22,335 is due to lower short-term investment balances.
Current report
Gross Revenue. There was $8,000 in revenues generated for the six-months ended June 30, 2024 in comparison with no revenues for the comparable period a year ago.
Current report
Gross Profit/(Loss). There was $4,800 in gross profits for the six-months ended June 30, 2024 in comparison to no gross profit for the comparable period a year ago.
Current report
*Amortization Expenses. *Amortization expenses for the six-months ended June 30, 2024 totaled $58,542 in comparison with $46,042 for the comparable period a year ago.
Current report
Operating Loss. For the reasons stated above, our operating loss for the six-months ended June 30, 2024, was $2,748,453 in comparison with $2,305,108 for the comparable period a year ago.
Reworded paragraphs (14)
Previous wording
Results of Operations – For the Three-month Periods Ended March 31, 2024, and 2023
Current wording
Results of Operations – For the Three-months Periods Ended June 30, 2024, and 2023
Previous wording
Gross Revenue. There were no revenues generated for the three-months ended March 31, 2024 and 2023.
Current wording
Gross Revenue. There was $8,000 in revenues generated for the three-months ended June 30, 2024 in comparison withno revenues for the comparable period a year ago.
Previous wording
Cost of Goods Sold. There was no cost of goods sold for the three-months ended March 31, 2024 and 2023.
Current wording
Cost of Goods Sold. There was $3,200 in cost of goods sold for the three-months ended June 30, 2024 in comparison to no cost of goods sold for the comparable period a year ago.
Previous wording
Gross Profit/(Loss). There were no gross profits for the three-months ended March 31, 2024 and 2023.
Current wording
Gross Profit/(Loss). There was $4,800 in gross profits for the three-months ended June 30, 2024 in comparison to no gross profit for the comparable period a year ago.
Previous wording
***Amortization Expenses.***Amortization expenses for the three-month period ended March 31, 2024 totaled $29,271 in comparison with $23,021 for the comparable period a year ago.
Current wording
*Amortization Expenses. *Amortization expenses for the three-months ended June 30, 2024 totaled $29,271 in comparison with $23,021 for the comparable period a year ago.
Previous wording
Research and Development Expenses. Research and development expenses for the three-months ended March 31, 2024, totaled $422,392 in comparison to $319,029 for the comparable period a year ago. The increase of $103,363, or 32% was primarily due to increases of $42,708 associated with the CELZ 201 CREATE-1 Type 1 Diabetes clinical trial, and $50,347 associated with the CELZ-201 ADAPT Chronic Lower Back Pain clinical trial.
Current wording
Research and Development Expenses. Research and development expenses for the three-months ended June 30, 2024, totaled $924,749 in comparison to $309,480 for the comparable period a year ago. The increase of $615,269, or 199% was primarily due to increases of $107,021 associated with the CELZ 201 CREATE-1 Type 1 Diabetes clinical trial, $195,792 associated with the CELZ-201 ADAPT Chronic Lower Back Pain clinical trial, and $301,884 in general research and development.
Previous wording
Operating Loss. For the reasons stated above, our operating loss for the three-months ended March 31, 2024, was $1,119,397 in comparison with $1,113,070 for the comparable period a year ago.
Current wording
Operating Loss. For the reasons stated above, our operating loss for the three-months ended June 30, 2024, was $1,625,306 in comparison with $1,192,038 for the comparable period a year ago.
Previous wording
Net Income/Loss. For the reasons stated above, our net loss for the three-months ended March 31, 2024, was $1,037,794 in comparison with a net loss of $1,051,923 for the comparable period a year ago.
Current wording
Net Income/Loss. For the reasons stated above, our net loss for the six-months ended June 30, 2024, was $1,557,728 in comparison with a net loss of $1,102,125 for the comparable period a year ago.
Previous wording
Selling, General and Administrative Expenses. General and administrative expenses for the three-months ended March 31, 2024, totaled $671,484, in comparison with $771,020 for the comparable period a year ago. The decrease of $99,536, or 13% is primarily due to decreases of $55,112 in marketing, $42,752 in public company related expenses, and $86,409 in professional fees, offset by an increase of $66,040 in compensation.
Current wording
Selling, General and Administrative Expenses. General and administrative expenses for the six-months ended June 30, 2024, totaled $1,347,570, in comparison with $1,630,557 for the comparable period a year ago. The decrease of $282,987, or 17% is primarily due to decreases of $122,216 in marketing, $65,167 in public company related expenses, and $112,158 in professional fees.
Previous wording
Other Income. Other income for the three-months ended March 31, 2024, totaled $81,603 in comparison with $61,147 for the comparable period a year ago. The increased income of $20,456 is due to increased interest rates associated with $6,076,734 in short-term certificates of deposit and US treasuries.
Current wording
Other Income. Other income for the six-months ended June 30, 2024, totaled $149,181 in comparison with $151,060 for the comparable period a year ago. The decreased income of $1,879 is due to lower short-term investment balances offset by increased interest rates.
Previous wording
As of March 31, 2024, we had $9,007,398 of available cash, certificates of deposit and US Treasuries and positive working capital of approximately $8,813,597. In comparison, as of December 31, 2023, we had $9,987,058 of available cash, certificates of deposit and US Treasuries and positive working capital of $9,899,504.
Current wording
As of June 30, 2024, we had**$7,471,476** of available cash, certificates of deposit and US Treasuries and positive working capital of approximately $7,227,684. In comparison, as of December 31, 2023, we had $9,987,058 of available cash, certificates of deposit and US Treasuries and positive working capital of $9,899,504.
Previous wording
***Net Cash used in Operating Activities.***We used cash in our operating activities due to our losses from operations. Net cash used in operating activities was $896,864 for the three-months ended March 31, 2024, in comparison to $3,841,642 for the comparable period a year ago, a decrease of $2,944,778 or 77%. The decrease in cash used in operations was primarily related to a $3,000,000 payment of an outstanding accounts payable balance made in the three-months ended March 31, 2023.
Current wording
***Net Cash used in Operating Activities.***We used cash in our operating activities due to our losses from operations. Net cash used in operating activities was $2,366,168 for the six-months ended June 30, 2024, in comparison to $4,828,379 for the comparable period a year ago, a decrease of $2,462,211 or 51%. The decrease in cash used in operations was primarily related to a $3,000,000 payment of an outstanding accounts payable balance made in the six-months ended June 30, 2023.
Previous wording
Net Cash Received From Investing Activities*.* Cash received in investing activities was $6,520,191 for the three-months ended March 31, 2024, from the net redemptions of certificates of deposit, in comparison to $5,037,326 of cash received from net redemptions of certificates of deposit for the comparable period a year ago.
Current wording
Net Cash Received From Investing Activities*.* Cash received in investing activities was $6,520,191 for the six-months ended June 30, 2024, from the net redemptions of certificates of deposit, in comparison to $497,410 of cash received from net redemptions of certificates of deposit for the comparable period a year ago.
Previous wording
Cash used in financing activities for the three-months ended March 31, 2024 was $82,796 associated with the repurchase of our common stock under our stock re-purchase program. There were no financing activities during the three-months ended March 31, 2023.
Current wording
Cash used in financing activities for the six-months ended June 30, 2024 was $149,414 associated with the repurchase of our common stock under our stock re-purchase program. There were no financing activities during the six-months ended June 30, 2023.
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
Results of Operations – For the Six-month Periods Ended June 30, 2024, and 2023
Current report — wording carried from elsewhere
Cost of Goods Sold. There was $3,200 in cost of goods sold for the six-months ended June 30, 2024 in comparison to no cost of goods sold for the comparable period a year ago.
Current report — wording carried from elsewhere
Research and Development Expenses. Research and development expenses for the six-months ended June 30, 2024, totaled $1,347,141 in comparison to $628,509 for the comparable period a year ago. The increase of $718,632, or 114% was primarily due to increases of $149,729 associated with the CELZ 201 CREATE-1 Type 1 Diabetes clinical trial, $246,139 associated with the CELZ-201 ADAPT Chronic Lower Back Pain clinical trial, and $312,193 in general research and development.
Current report — wording carried from elsewhere
Net Income/Loss. For the reasons stated above, our net loss for the six-months ended June 30, 2024, was $2,599,272 in comparison with a net loss of $2,154,048 for the comparable period a year ago.