VIENNA, Va.–( BUSINESS WIRE )–CEL-SCI (“CEL-SCI or the Company”) (NYSE: CVM), a clinical-stage cancer immunotherapy company, today announced that it intends to offer for sale Shares its company's common stock (and/or pre-funded warrants alternatively) in a best efforts public offering. The Offer is subject to market conditions and there can be no assurance as to whether or when the Offer will be completed, or as to the actual size or terms of the Offer.
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 is acting as the sole placement agent for the offering.
The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-265995), including a base prospectus, filed with the SEC on July 1, 2022 and declared effective on July 15. July 2022. The offering will only take place through a written prospectus. A preliminary prospectus supplement and accompanying base prospectus describing the terms of the offering have been or will be filed with the Securities and Exchange Commission on its website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may also be obtained from the offices of ThinkEquity, 17 State Street (NYSE:), 41st Floor, New York, NY 10004. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement, the accompanying base prospectus and other documents filed by the Company with the Securities and Exchange Commission and which are incorporated by reference in A preliminary prospectus supplement and accompanying prospectus, which provides further information about the company and this offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Judicial like this.
About CEL-SCI
CEL-SCI believes that boosting a patient's immune system while it is still healthy should provide the greatest possible impact on survival. Multikine is designed to help the immune system 'target' the tumor while the immune system is still relatively intact and is therefore thought to be better able to mount an attack on the tumor.
Multikine (Interleukin leukocyte injection), a true first-line cancer treatment, has been used in more than 740 patients and has received orphan drug designation from the US Food and Drug Administration as a neoadjuvant therapy in patients with squamous cell carcinoma (cancer) of the head and neck . Based on data from the completed randomized phase III study, the US Food and Drug Administration (FDA) has approved target patient selection criteria for CEL-SCI and given the green light for a confirmatory registration study that will enroll 212 patients. CEL-SCI will enroll locally advanced, newly diagnosed primary treatment of resectable head and neck cancer patients with no lymph node involvement (determined by PET scan) and with low tumor PD-L1 expression (determined by biopsy), representing approx. 100,000 patients annually.
The company has operations in Vienna, Virginia, and near/in 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 news release, the words “intends,” “believes,” “expected,” “plans,” “anticipated” 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 anticipated. These statements include, but are not limited to, statements about the proposed offer. Factors that could cause or contribute to such differences include the inability to replicate clinical results demonstrated in clinical studies, the timely development of any potential products that can be demonstrated to be safe and effective, obtaining necessary regulatory approvals, and difficulties in manufacturing any of the Company's products. potential products, inability to raise necessary capital and 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 Annual Report on Form 10-K for the year ended September 30, 2023. The Company undertakes no obligation to publicly release the outcome of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities law. With it.
Multikine (Leukcyt Interleukin, Injection) is the CEL-SCI registered trademark for this investigational therapy. This proprietary name is subject to FDA review in connection with the Company's anticipated future regulatory submission for approval. Multikine is not licensed or approved for sale, barter or exchange by the Food and Drug Administration or any other regulatory agency. Likewise, its safety or effectiveness has not been proven for any use.
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Gavin de Wendt
CEL-SCI Company
(703) 506-9460
Source: CEL-SCI
