<div id="readability-page-1">Biotech stock Celcuity Inc (NASDAQ:CELC) is skyrocketing today, up 221% at $43.76 at last glance, after upbeat phase 3 trial results for its advanced breast cancer therapy, gedatolisib, which it hopes will have Food &amp; Drug Administration (FDA) approval by the end of the year. The treatment demonstrated a favorable safety profile in comparison to similar drugs, and the triple combo of gedatolisib, Pfizer's (PFE) Ibrance, and AstraZeneca's (AZN) endocrine therapy Faslode reduced the risk of disease progression or death by 76%. Headed for its best day ever, CELC is trading at record highs after blowing past its previous June 25, 2021 all-time peak of $33.01. The equity is also breaking into positive territory year-over-year. Celcuity is seeing much more options activity than usual, though puts are outweighing calls nine to one as traders appear to bet on a correction. The most popular contract today is the August 25 put, with new positions being bought to open there. Analysts have yet to chime in, though all eight in coverage already carry a &#34;buy&#34; or &#34;strong buy&#34; rating. The 12-month consensus price target of $32 is now a discount to current levels, however, so bull notes could keep the wind at the equity's back. </div>

CELC

Biotech stock Celcuity Inc (NASDAQ:CELC) surged 221% to $43.76 following positive phase 3 trial results for its breast cancer therapy, gedatolisib, which may receive FDA approval soon. The treatment showed a 76% reduction in disease progression risk. CELC is trading at record highs, surpassing its previous peak of $33.01. Despite increased options activity, puts are outpacing calls nine to one, indicating potential correction bets. Analysts maintain a "buy" or "strong buy" rating, but the 12-month price target of $32 is now below current levels.

Biotech Stock Blasting Off After Late-Stage Trial Results