CEL-SCI Corporation Announces Public Offering of Common Stock
CEL-SCI Corporation, a clinical stage cancer immunotherapy company, has announced plans to offer shares of its common stock and/or pre-funded warrants in an underwritten public offering. The offering is subject to market conditions and the Company plans to use the net proceeds from the offering to fund the continued development of its lead product, Multikine, as well as for general corporate purposes and working capital.
Key Takeaways:
- The public offering is being managed by ThinkEquity, a sole book-running manager, and is subject to market conditions.
- CEL-SCI intends to use the net proceeds from the offering to fund the continued development of Multikine, general corporate purposes, and working capital.
- The Company has operations in Vienna, Virginia, and near/in Baltimore, Maryland.
- Multikine has been dosed in 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 FDA has concurred with CEL-SCI's target patient selection criteria and given the go-ahead to conduct a confirmatory Registration Study.
- The Registration Study will enroll 212 newly diagnosed locally advanced primary treatment nave resectable head and neck cancer patients with no lymph node involvement and with low PD-L1 tumor expression.
Statistics:
- Over 740 patients have been dosed with Multikine.
- 212 patients are to be enrolled in the confirmatory Registration Study.
- Multikine has received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma of the head and neck.
- The Company plans to use the net proceeds from the offering for general corporate purposes and working capital.
Sources:
- Business Wire: "CEL-SCI Corporation Announces Intention to Offer Shares of Common Stock in an Underwritten Public Offering"
- Form S-3 (File No. 333-265995) filed with the SEC on July 1, 2022, and declared effective on July 15, 2022.