CEL-SCI Announces Proposed Public Offering of Common Stock and Warrants
02 December 2016 - 8:01AM
Business Wire
CEL-SCI Corporation (NYSE MKT: CVM) announced today that
it intends to offer and sell, subject to market and other
conditions shares of its common stock and warrants to purchase
common stock. The securities are to be sold by CEL-SCI subject to
market and other conditions in a public offering.
CEL-SCI currently intends to use the net proceeds from the
offering to fund the continued development of Multikine*, LEAPS and
for other general corporate purposes.
Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC,
is acting as exclusive placement agent in connection with the
offering.
A “shelf” registration statement relating to the shares of
common stock and warrants to be issued in the proposed offering was
filed with the Securities and Exchange Commission (SEC) and was
declared effective by the SEC on October 30, 2015. This press
release does not constitute an offer to sell, or the solicitation
of an offer to buy, these securities, nor will there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale is not permitted.
A preliminary prospectus supplement and accompanying prospectus
describing the terms of the proposed offering will be filed with
the SEC. Copies of the preliminary prospectus supplement and the
accompanying prospectus relating to the securities being offered
may also be obtained from Rodman & Renshaw, a unit of H.C.
Wainwright & Co., via email at placements@hcwco.com. Electronic
copies of the preliminary prospectus supplement and accompanying
prospectus will also be available on the SEC’s website at
http://www.sec.gov.
About CEL-SCI Corporation
CEL-SCI's work is focused on finding the best way to activate
the immune system to fight cancer and infectious diseases. Its lead
investigational immunotherapy, Multikine (Leukocyte Interleukin,
Injection), is currently being studied in a pivotal Phase 3
clinical trial as a potential neoadjuvant treatment for patients
with squamous cell carcinoma of the head and neck. Subject to the
partial clinical hold, the study was designed with the objective
that, if the study endpoint, which is an improvement in overall
survival of the subjects treated with the Multikine treatment
regimen plus the current standard of care (SOC) as compared to
subjects treated with the current SOC only, is satisfied, the study
results will be used to support applications that the Company plans
to submit to regulatory agencies in order to seek commercial
marketing approvals for Multikine in major markets around the
world. Additional clinical indications for Multikine that are being
investigated include the treatment of cervical dysplasia in HIV/HPV
co-infected women, and the treatment of peri-anal warts in HIV/HPV
co-infected men and women. A Phase 1 trial of the former indication
(treatment of cervical dysplasia in HIV/HPV co-infected women) has
been completed at the University of Maryland. The latter indication
(treatment of peri-anal warts in HIV/HPV co-infected men and women)
is being studied in a Phase 1 trial at the University of
California, San Francisco. CEL-SCI has patents on Multikine from
the US, Europe, China, and Japan.
CEL-SCI is also developing its pre-clinical L.E.A.P.S. (Ligand
Epitope Antigen Presentation System) technology for the potential
treatment of pandemic influenza in hospitalized patients and as a
potential vaccine for the treatment of rheumatoid arthritis.
The Company has operations in Vienna, Virginia, and in/near
Baltimore, Maryland.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. When used in this press release, the words "intends,"
"believes," "anticipated," "plans" and "expects," and similar
expressions, are intended to identify forward-looking statements.
Such statements are subject to risks and uncertainties that could
cause actual results to differ materially from those projected,
including the risk that the offering is subject to market and other
conditions and there can be no assurance as to whether or when the
offering may be completed or as to the actual size or terms of the
offering. Factors that could cause or contribute to such
differences include, an inability to duplicate the clinical results
demonstrated in clinical studies, timely development of any
potential products that can be shown to be safe and effective,
receiving necessary regulatory approvals, difficulties in
manufacturing any of the Company's potential products, inability to
raise the necessary capital and the risk factors set forth from
time to time in CEL-SCI’s filings with the Securities and Exchange
Commission, including but not limited to its report on Form 10-K
for the year ended September 30, 2015. The Company undertakes no
obligation to publicly release the result of any revision to these
forward-looking statements which may be made to reflect the events
or circumstances after the date hereof or to reflect the occurrence
of unanticipated events.
* Multikine (Leukocyte Interleukin, Injection) is the trademark
that CEL-SCI has registered for this investigational therapy, and
this proprietary name is subject to FDA review in connection with
the Company's future anticipated regulatory submission for
approval. Multikine has not been licensed or approved for sale,
barter or exchange by the FDA or any other regulatory agency.
Similarly, its safety or efficacy has not been established for any
use. Moreover, no definitive conclusions can be drawn from the
early-phase, clinical-trials data involving the investigational
therapy Multikine. Further research is required, and early-phase
clinical trial results must be confirmed in the Phase 3 clinical
trial of this investigational therapy that is in progress and that
is currently subject to a clinical hold on enrollment of additional
new patients.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161201006409/en/
CEL-SCI CorporationGavin de Windt, 703-506-9460
Cel Sci (AMEX:CVM)
Historical Stock Chart
From Apr 2024 to May 2024
Cel Sci (AMEX:CVM)
Historical Stock Chart
From May 2023 to May 2024