Is Celularity struggling financially?

Yes, by its own account. Celularity told the SEC on 30 Apr 2026, in Form 10-K, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed Apr 2026

14/100

Critical

Sector: Biotech/Pharma
Market cap: $23.2M
Source filing: 10-K 30 Apr 2026
Balance sheet: 31 Dec 2025

Cash runway

3months

If the burn speeds up

Empty by Mar 2026
5months

If it eases off

Empty by May 2026

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$6.2M

Cash burned over the last 12 months

$20.2M

What Celularity told the SEC

…and salaries to restructure our business in order to conserve cash and focus on our core sales strategies. Our historical operating results indicate substantial doubt exists related to our ability to continue as a going concern. We will need substantial additional financing to develop our therapeutics and implement our operating plans. If we fail to obtain additional financing, we may be unable to complete…

Celularity Inc., Form 10-K, filed 30 Apr 2026.

Read the filing on SEC.gov

What this means

Not a bankruptcy filing, and not a prediction.
It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

Debt pressure is material Operating earnings cover only -1703.0x the interest bill, so the interest is being met out of cash reserves rather than out of the business.
27.9% share-count increase The company issued stock. Each share now owns 21.8% less of the business than a year ago, before any change in the price.

Cash runway

The runway math

What Celularity told the SEC

What this means

What else the numbers show

Other Biotech/Pharma companies that filed the doubt