On March 29, 2024, Celcuity Inc. (the ?Company?) entered into a Second Amendment (the ?Second Amendment?) to its existing Loan and Security Agreement (the ?Loan Agreement?), dated April 8, 2021, between the Company and Innovatus Life Sciences Lending Fund I, L.P., a Delaware limited partnership (?Innovatus?), as previously amended by that certain First Amendment (the ?First Amendment?) to Loan and Security Agreement, dated August 9, 2022 (the Loan Agreement, as amended by the First Amendment and the Second Amendment, shall be collectively referred to herein as the ?Amended Loan Agreement?). As previously disclosed, the Amended Loan Agreement may provide the Company with up to $75.0 million through funding of up to five term loans. Funding of the first $15.0 million term loan occurred on April 8, 2021 in connection with entering into the original Loan Agreement while an additional $20.0 million loan occurred on December 22, 2022 in connection with the closing of the Company?s previously disclosed $100 million private placement on December 9, 2022.

The Company became eligible to draw on an additional $10.0 million term loan (the ?Term C Loan?) upon its achievement prior to April 1, 2024 of the Term C Milestone, as defined in the Amended Loan Agreement, and the satisfaction of certain other terms and conditions set in the Amended Loan Agreement. The parties entered into the Second Amendment in order to extend the date through which the Company may draw on the Term C Loan (the ?Term C Draw Period?) from April 1, 2024 to June 1, 2024. Other than as set in the Second Amendment, the Amended Loan Agreement shall continue in full force and effect without alteration or amendment.