This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Celcuity Inc. is a clinical-stage biotechnology company whose drug development pipeline includes oncology therapeutics. The company's preclinical and clinical research activities inherently involve animal testing as a standard, required component of the pharmaceutical development process. This testing is conducted to assess drug safety, efficacy, and pharmacokinetics prior to human trials.
While specific details on the scale or nature of Celcuity's animal testing are not publicly disclosed in the gathered evidence, the company's operational focus on bringing new drug candidates to market places it within an industry sector where animal use is systematic and foundational. The available documentation references compliance with regulations governing preclinical studies, which universally mandate animal testing phases.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.