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United States. Securities and Exchange Commission

CEL-SCI Corporation Announces Closing of Public Offering

Strategic Insights

— 2 min read

CEL-SCI Corporation, a Phase 3 cancer immunotherapy company, has successfully closed a public offering of 2,490,000 shares of its common stock. The offering was priced at $2.00 per share, generating approximately $5 million in gross proceeds before deducting underwriting discounts and offering expenses. The company intends to use the net proceeds from this offering to fund the continued development of Multikine, for general corporate purposes, and working capital. ThinkEquity acted as the sole book-running manager for the offering.

The company's lead investigational therapy, Multikine, has completed a pivotal Phase 3 clinical trial involving head and neck cancer, and CEL-SCI has received Orphan Drug Status from the FDA. This clinical trial demonstrated the potential of Multikine in treating cancer, and the company is now focusing on further development and regulatory approval.

CEL-SCI is a clinical-stage biotechnology company focused on finding the best way to activate the immune system to fight cancer and infectious diseases. The company has operations in Vienna, Virginia, and near Baltimore, Maryland.

The success of this public offering is a crucial step towards the continued development of Multikine, a potential game-changer in the fight against head and neck cancer. With the funds raised from this offering, CEL-SCI is well-positioned to advance its clinical trials and bring this innovative therapy to market.

Key Takeaways:

  • CEL-SCI Corporation has successfully closed a public offering of 2,490,000 shares of its common stock, priced at $2.00 per share, generating approximately $5 million in gross proceeds.
  • The company intends to use the net proceeds from this offering to fund the continued development of Multikine, for general corporate purposes, and working capital.
  • ThinkEquity acted as the sole book-running manager for the offering, and the securities were offered under the Company's currently effective shelf registration statement on Form S-3, declared effective on July 15, 2022.
  • Multikine has completed a pivotal Phase 3 clinical trial involving head and neck cancer, and CEL-SCI has received Orphan Drug Status from the FDA.
  • CEL-SCI is focused on finding the best way to activate the immune system to fight cancer and infectious diseases.
  • The company has operations in Vienna, Virginia, and near Baltimore, Maryland.

Statistics:

  • Total number of shares offered: 2,490,000
  • Public offering price: $2.00 per share
  • Gross proceeds: approximately $5 million
  • Number of investors: 1 (single investor)

Sources:

  • "CEL-SCI Corporation Closes Previously Announced Public Offering" (Business Wire, November 20, 2023)
  • Form S-3 (File No. 333-265995), declared effective on July 15, 2022
  • ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004

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