Corporate ActionMay 1, 2026, 05:08 PM
CEL-SCI to Offer 4.88M Shares & Warrants; Aims for $13.7M Net Proceeds
AI Summary
CEL-SCI Corporation filed an S-1/A to offer up to 4,885,993 shares of common stock and an equal number of pre-funded warrants, aiming to raise approximately $13.7 million in net proceeds. The offering, on a best efforts basis with ThinkEquity LLC, has no minimum requirement and is expected to fund the continued development of its lead immunotherapy, Multikine, and for general corporate purposes. The company also highlighted positive Phase III clinical trial results for Multikine in head and neck cancer, showing a 73% 5-year survival rate in the target population, and announced FDA clearance to proceed with a 212-patient confirmatory registration study.
Key Highlights
- Offering up to 4,885,993 shares of common stock and pre-funded warrants.
- Aims to raise approximately $13.7 million in net proceeds from the offering.
- Assumed public offering price of $3.07 per share for common stock.
- Multikine Phase III showed 73% 5-year survival rate vs. 45% in control group.
- FDA approved moving forward with a 212-patient confirmatory registration study for Multikine.
- Net loss for Q1 2026 was $(5,469,446), or $(0.68) per share.
- Cash and cash equivalents were $6.28 million, projected to be $19.97 million post-offering.
- Common stock outstanding to increase from 8.49 million to 13.38 million shares.