CEL-SCI completes $5.7 million stock offering at $3.82 per share

CEL-SCI Corporation (NYSE American: CVM) closed a $5.7 million stock offering, selling 1.5 million shares at $3.82 per share under NYSE American at-the-market rules, the clinical stage cancer immunotherapy company announced.

The Vienna, Virginia-based company said it plans to use net proceeds to fund continued development of Multikine, general corporate purposes, and working capital. ThinkEquity served as the sole placement agent for the offering.

The securities were sold under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on July 1, 2022, and declared effective on July 15, 2022.

CEL-SCI develops cancer immunotherapy treatments designed to boost patients' immune systems before surgery, radiotherapy and chemotherapy. The company's lead product candidate, Multikine, is intended to help the immune system target tumors when the immune system remains relatively intact.

Multikine has been administered to over 740 patients and received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma of the head and neck. The treatment is given after diagnosis and before surgery.

The company operates facilities in Vienna, Virginia, and near Baltimore, Maryland.

You May Also Be Interested In

• Bessent: U.S. will enforce 'zero leakage' approach to Iran sanctions
• FDA grants fast track status to Erasca's ERAS-0015 for pancreatic cancer
• BKV registers 5.3 million shares for resale tied to power JV deal