Cel-Sci Corporation - CVM STOCK NEWS

CEL-SCI Corporation (NYSE American: CVM) reported financial results for the fiscal year ended September 30, 2021, revealing a net loss of $36.4 million, up from $30.3 million in 2020. The increase in the loss was driven by a 30% rise in R&D expenses, totaling $23.1 million, and a 12% increase in general and administrative costs. Despite this, CEL-SCI successfully completed the expansion of its cGMP manufacturing facility for Multikine, which is crucial for its anticipated regulatory approval. The company raised approximately $54.1 million in 2021 and ended the fiscal year with $42.2 million in cash and equivalents.

CEL-SCI Corporation (NYSE American: CVM) has completed an expansion of its dedicated Multikine manufacturing facility in Vienna, Virginia. This expansion, a result of an $11 million investment, doubles production capacity to meet expected market demand following a potential Biologics License Application (BLA) for Multikine. The renovations ensure compliance with FDA standards and anticipate hiring additional staff. Multikine is being studied as a neoadjuvant treatment for advanced primary head and neck cancer, with positive results from a pivotal Phase 3 study reported in June 2021.

CEL-SCI Corporation (CVM) announced its financial results for the quarter ending June 30, 2021, highlighting a significant milestone in its Phase 3 study of Multikine for head and neck cancer. The study demonstrated a 14.1% improvement in 5-year overall survival for patients treated with Multikine compared to controls. CEL-SCI plans to file a Biologic License Application with the FDA, targeting approximately 210,000 patients annually. The company reported an operating loss of $27.7 million for the nine months ending June 30, 2021, a rise from $20.5 million in the previous year.

CEL-SCI Corporation (NYSE American: CVM) reported significant results from its Phase 3 trial of Multikine in advanced primary head and neck cancer, demonstrating a 14.1% increase in 5-year survival rates (62.7% vs 48.6%) for patients receiving the therapy plus standard treatment. The company plans to file for FDA approval based on these findings. Multikine is an investigational immunotherapy containing multiple cytokines, aimed at enhancing the immune response before surgery and radiotherapy. The discussion of results took place at the Annual Shareholder Meeting on July 1, 2021.

CEL-SCI Corporation (NYSE American: CVM) announced it will discuss its Phase 3 head and neck cancer trial results post its Annual Shareholder Meeting on July 1, 2021. The trial showed a significant 14.1% 5-year survival benefit (62.7% vs 48.6%) for patients receiving surgery plus radiotherapy after treatment with Multikine®. The company plans to file for FDA approval in this patient group. Multikine is an investigational immunotherapy designed to enhance immune response against cancer, manufactured under strict GMP standards.

CEL-SCI Corporation (NYSE American: CVM) announced results from a pivotal 9.5-year Phase 3 study of its immunotherapy Multikine for advanced primary squamous cell carcinoma of the head and neck. The treatment demonstrated a statistically significant 14.1% overall survival benefit (OS) at 5 years (62.7%) for patients not receiving chemotherapy. The study enrolled 928 patients across 78 sites, showing no safety issues. Although the overall trial did not meet the primary endpoint, the results for the chemotherapy-free subgroup warrant an FDA approval request, highlighting an unmet medical need for around 155,000 patients annually.

CEL-SCI Corporation (NYSE American: CVM) is hosting its Annual Shareholder Meeting on July 1, 2021, at 10:00 a.m. EDT. Participants can submit questions until June 29, 2021, at 5:00 p.m. EDT via email. Due to COVID-19 concerns, the meeting will be hybrid, held both in-person and virtually. CEL-SCI is focused on cancer immunotherapy with its lead product, Multikine, in a pivotal Phase 3 trial for head and neck cancer, having received FDA Orphan Drug Status.

CEL-SCI Corporation (NYSE American: CVM) has successfully closed the offering of 1,400,000 shares of its common stock at a price of $22.62 per share, amounting to approximately $31.7 million in gross proceeds. The underwriter, Kingswood Capital Markets, has a 30-day option to purchase an additional 210,000 shares to cover over-allotments. This offering was made under a 'shelf' registration statement with the SEC. CEL-SCI is focused on developing immunotherapy treatments, with its lead therapy, Multikine, in a pivotal Phase 3 trial for head and neck cancer.

CEL-SCI Corporation (NYSE American: CVM) announced an increased public offering of 1,400,000 shares of common stock at $22.62 per share, a 5% discount to the last closing price. The offering, expected to close around June 11, 2021, will fund the development of Multikine and other corporate purposes. Kingswood Capital Markets is the sole book-runner. The offering is registered under an S-3 shelf registration. Investors are reminded that the offering is subject to market conditions and other risks.