The stock decline followed a July 14 announcement that the FDA had cleared the drug, but with a launch timeline that caught Wall Street off guard. Analysts at Stifel and Leerink both flagged the delay, noting that the late third-quarter rollout contradicted earlier company commentary regarding launch readiness. Stephen Wiley of Stifel described the guidance as "somewhat extended," while Andrew Berens of Leerink pointed out that the timeline was unexpected given previous expectations.

Celcuity shares slid $19.54 to close at $91.51 on July 15. Pomerantz LLP is now examining whether the company and its leadership engaged in securities fraud or other unlawful practices, inviting affected shareholders to contact their legal team for further review.