CREATIVE MEDICAL TECHNOLOGY HOLDINGS, INC.
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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.
Sep 30, 2026 · Filed Nov 6, 2026
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 2026-06-30; filed 2026-08-07.
0001477932-26-004779
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-06.
0001477932-26-006758
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 59 previous paragraphs and 59 current paragraphs.
36 unchanged; 23 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 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.
Reworded paragraphs (23)
Previous wording
We are clinical-stage biotechnology company focused on developing regenerative medicine therapies derived from adult and perinatal stem cell technologies. We employ scalable, cGMP manufacturing that enables efficient, cost effective production as programs advance. Supported by a clinical, intellectual property and technological foundation, we are advancing from proof of concept into clinical development in pursuit of regenerative stem cell therapies across multiple indications, with a pipeline targeting addressable markets in orthopedics, immunotherapy, endocrinology, urology and gynecology. Out platforms and therapies include the following:
Current wording
We are clinical-stage biotechnology company focused on developing regenerative medicine therapies derived from adult and perinatal stem cell technologies. We employ scalable, cGMP manufacturing that enables efficient, cost-effective production as programs advance. Supported by a clinical, intellectual property and technological foundation, we are advancing from proof of concept into clinical development in pursuit of regenerative stem cell therapies across multiple indications, with a pipeline targeting addressable markets in orthopedics, immunotherapy, endocrinology, urology and gynecology. Our platforms and therapies include the following:
Previous wording
We integrate AI, where applicable, into our drug development activities to analyse biological and clinical datasets, prioritize targets and candidates and support efforts to enhance efficiencies, shorten development timelines and increase the probability of success for our programs.
Current wording
We integrate AI, where applicable, into our drug development activities to analyze biological and clinical datasets, prioritize targets and candidates and support efforts to enhance efficiencies, shorten development timelines and increase the probability of success for our programs.
Previous wording
The Company’s near term priorities for the biodefense platform include completing initial enrollment and data ingestion for the first 1,000 veterans in the burn pit registry, advancing AI based modeling to identify exposure linked molecular signatures and potential regenerative countermeasures using the Company’s stem cell and induced pluripotent stem cell platforms and pursuing government and strategic collaborations intended to expand the potential utility of the Toxic Exposure Atlas across broader military and civilian populations.
Current wording
The Company’s near term priorities for the biodefense platform include completing initial enrolment and data ingestion for the first 1,000 veterans in the burn pit registry, advancing AI based modelling to identify exposure linked molecular signatures and potential regenerative countermeasures using the Company’s stem cell and induced pluripotent stem cell platforms and pursuing government and strategic collaborations intended to expand the potential utility of the Toxic Exposure Atlas across broader military and civilian populations.
Previous wording
Selling, General and Administrative Expenses. General and administrative expenses for the three-months ended June 30, 2026, totaled $1,080,045, in comparison with $731,517 for the comparable period a year ago. The increase of $348,528, or 48% is primarily due to increases of $206,642 in marketing due to a Company-level marketing campaign, $50,513 due to timing of a general liability payment, $38,244 increased salaries from an additional hire and $32,642 in additional travel expenses.
Current wording
Selling, General and Administrative Expenses. General and administrative expenses for the three-months ended September 30, 2026, totaled $1,107,611, in comparison with $776,821 for the comparable period a year ago. The increase of $330,790, or 43% is primarily due to increases of, $144,374 in additional employee compensation, and $95,128 in legal fees, offset by a reduction of $60,637 in marketing.
Previous wording
Amortization Expenses.* *Amortization expenses for the three-months ended June 30, 2026 totaled $22,918 in comparison with $30,742 for the comparable period a year ago.
Current wording
Amortization Expenses.* *Amortization expenses for the three-months ended September 30, 2026 totaled $16,653 in comparison with $31,059 for the comparable period a year ago.
Previous wording
Research and Development Expenses. Research and development expenses for the three-months ended June 30, 2026, totaled $459,200 in comparison to $501,261 for the comparable period a year ago. The decrease of $42,061, or 8% was primarily due to a decrease of $114,794 associated with the AlloStemSpine® Chronic Lower Back Pain (CELZ-201 ADAPT) trial as trial proceeds to the follow-up stage, offset by an $66,733 increase in general research and development associated with investments in our other platforms and programs.
Current wording
Research and Development Expenses. Research and development expenses for the three-months ended September 30, 2026, totaled $1,601,688 in comparison to $465,154 for the comparable period a year ago. The increase of $1,136,534, or 244% was primarily due to $1,170,000 in stock-based expense associated with the investment in BioDefense Inc, (See Note 4) and a $116,455 increase in general research and development associated with investments in our other platforms and programs, offset by a decrease of $150,601 associated with the AlloStemSpine® Chronic Lower Back Pain (CELZ-201 ADAPT) trial as it moves from recruitment/dosing to follow-up.
Previous wording
Operating Loss. For the reasons stated above, our operating loss for the three-months ended June 30, 2026, was $1,562,163 in comparison with $1,263,520 for the comparable period a year ago.
Current wording
Operating Loss. For the reasons stated above, our operating loss for the three-months ended September 30, 2026, was $2,725,952 in comparison with $1,273,034 for the comparable period a year ago.
Previous wording
Other Income**.** Other income for the six-months ended June 30, 2026, totaled $106,349 in comparison with $52,598 for the comparable period a year ago. The increased income of $53,571 is primarily due to higher short-term investment balances.
Current wording
Other Income**.** Other income for the three-months ended September 30, 2026, totaled $62,474 in comparison with $37,100 for the comparable period a year ago. The increased income of $25,374 is primarily due to a gain on the sale of the Bionance note #2 (See Note 5).
Previous wording
Net Income/Loss. For the reasons stated above, our net loss for the three-months ended June 30, 2026, was $1,511,250 in comparison with a net loss of $1,233,303 for the comparable period a year ago.
Current wording
Net Income/Loss**.** For the reasons stated above, our net loss for the three-months ended September 30, 2026, was $2,663,478 in comparison with a net loss of $1,235,934 for the comparable period a year ago.
Previous wording
Results of Operations – For the Six-month Periods Ended June 30, 2026, and 2025
Current wording
Results of Operations – For the nine-month Periods Ended September 30, 2026, and 2025
Previous wording
Gross Revenue. There were $0 and $3,000 revenues generated for the six-month periods ended June 30, 2026 and 2025 respectively.
Current wording
Gross Revenue. There were $0 and $3,000 revenues generated for the nine-month periods ended September 30, 2026 and 2025 respectively.
Previous wording
Cost of Goods Sold. There were $0 and $1,200 cost of goods sold for the six-month periods ended June 30, 2026 and 2025 respectively.
Current wording
Cost of Goods Sold. There were $0 and $1,200 cost of goods sold for the nine-month periods ended September 30, 2026 and 2025 respectively.
Previous wording
Gross Profit/(Loss). There were $0 and** **$1,800 in gross profits for the six-month periods ended June 30, 2026 and 2025.
Current wording
Gross Profit/(Loss). There were $0 and** **$1,800 in gross profits for the nine-month periods ended September 30, 2026 and 2025.
Previous wording
Selling, General and Administrative Expenses. General and administrative expenses for the six-months ended June 30, 2026, totaled $1,968,685, in comparison with $1,619,914 for the comparable period a year ago. The increase of $348,771, or 22% is primarily due to increases of $136,025 in marketing from a nation-wide, company-level marketing campaign, $114,971 in salaries due to an additional staff member and bonus payout timing, $51,000 in legal and accounting due to increased public filing activities, $30,214 in travel, and $26,923 in computer and internet expenses.
Current wording
Selling, General and Administrative Expenses. General and administrative expenses for the nine-months ended September 30, 2026, totaled $3,076,296, in comparison with $2,396,735 for the comparable period a year ago. The increase of $679,561, or 28% is primarily due to increases of $259,345 in compensation due to an additional staff member and bonus payout timing, $172,628 in legal and accounting due to increased public filing activities, $150,000 in Board of Directors member payment timing, and $75,388 in marketing from a nation-wide, company-level marketing campaign, offset by a reduction of $44,433 in director and officer insurance expense.
Previous wording
Amortization Expenses.* *Amortization expenses for the six-months ended June 30, 2026 totaled $51,773 in comparison with $61,319 for the comparable period a year ago.
Current wording
Amortization Expenses.* *Amortization expenses for the nine-months ended September 30, 2026 totaled $68,426 in comparison with $92,378 for the comparable period a year ago.
Previous wording
Research and Development Expenses. Research and development expenses for the six-months ended June 30, 2026, totaled $1,000,858 in comparison to $1,244,565 for the comparable period a year ago. The decrease of $243,707, or 20% was primarily due to a decrease of $163,594 in general research and development, and $89,112 associated with the AlloStemSpine® Chronic Lower Back Pain (CELZ-201 ADAPT) trial and it moves from subject recruitment/dosing to follow-up.
Current wording
Research and Development Expenses. Research and development expenses for the nine-months ended September 30, 2026, totaled $2,602,546 in comparison to $1,709,719 for the comparable period a year ago. The increase of $892,827, or 52% was primarily due to $1,166,515 in stock-based expense associated with the investment in Biodefense Inc, (See Note 4), offset by a decrease of $47,459 in general research and development, and $238,713 associated with the AlloStemSpine® Chronic Lower Back Pain (CELZ-201 ADAPT) trial as it moves from subject recruitment/dosing to follow-up.
Previous wording
Operating Loss. For the reasons stated above, our operating loss for the six-months ended June 30, 2026, was $3,021,316 in comparison with $2,923,998 for the comparable period a year ago.
Current wording
Operating Loss. For the reasons stated above, our operating loss for the nine-months ended September 30, 2026, was $5,747,268 in comparison with $4,197,032 for the comparable period a year ago.
Previous wording
Other Income**.** Other income for the three-months ended June 30, 2026, totaled $50,913 in comparison with $30,217 for the comparable period a year ago. The increased income of $20,696 is primarily due to higher short-term investment balances.
Current wording
Other Income**.** Other income for the nine-months ended September 30, 2026, totaled $168,823 in comparison with $89,698 for the comparable period a year ago. The increased income of $79,125 is primarily due to a gain on the sale of the Bionance note #2 (See Note 5), and higher short-term investment balances.
Previous wording
Net Income/Loss**.** For the reasons stated above, our net loss for the six-months ended June 30, 2026, was $2,914,967 in comparison with a net loss of $2,871,400 for the comparable period a year ago.
Current wording
Net Income/Loss**.** For the reasons stated above, our net loss for the nine-months ended September 30, 2026, was $5,578,445 in comparison with a net loss of $4,107,334 for the comparable period a year ago.
Previous wording
As of June 30, 2026, we had $8,714,115 of available cash and US Treasuries and positive working capital of approximately $8,320,318. In comparison, as of December 31, 2025, we had $7,208,126 of available cash, certificates of deposit and US Treasuries and positive working capital of $7,114,134.
Current wording
As of September 30, 2026, we had $6,845,741 of available cash and US Treasuries and positive working capital of approximately $6,643,493. In comparison, as of December 31, 2025, we had $7,208,126 of available cash, certificates of deposit and US Treasuries and positive working capital of $7,114,134.
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 $2,795,555 for the six-months ended June 30, 2026, in comparison to $2,750,282 for the comparable period a year ago, an increase of $1,459 of 0.05%.
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 $4,459,905 for the nine-months ended September 30, 2026, in comparison to $3,918,891 for the comparable period a year ago, an increase of $541,014 or 14%.
Previous wording
Net Cash used in Investing Activities*.* We used $175,000 in cash in investing activities during the six-months ended June 30, 2026, in comparison to no cash used for the comparable period a year ago. The increase in cash used in investing activities was related to a $125,000 investment in a related entity and a $50,000 investment in a note receivable.
Current wording
Net Cash from Investing Activities*.* We generated $28,140 in cash in investing activities during the nine-months ended September 30, 2026, in comparison to no cash used or generated for the comparable period a year ago. The increase in cash used in investing activities was related to a gain on investment on the retired Bionance note #2 (See Note 5)
Previous wording
Cash received in financing activities for the six-months ended June 30, 2026 was $4,476,544 in proceeds primarily from the June 30, 2026 warrant inducement transaction, in comparison to $3,354,000 in net cash received for the comparable period a year ago, primarily from the March 2025 warrant inducement transaction.
Current wording
Cash received in financing activities for the nine-months ended September 30, 2026 was $4,069,380 in proceeds primarily from the June 30, 2026 warrant inducement transaction, in comparison to $3,354,000 in net cash received for the comparable period a year ago, primarily from the March 2025 warrant inducement transaction.