CEL-SCI (NYSE American: CVM), a cancer immunotherapy company, recently announced the closing of its previously announced best-efforts offering. The transaction involved the sale of 10,845,000 shares of the company’s common stock (or pre-funded warrants in lieu thereof) at an offering price of $1.00 per unit (inclusive of the pre-funded warrant exercise price). The offering raised $10,845,000 in gross proceeds before deductions. CEL-SCI intends to use the net proceeds to fund the continued development of Multikine (its lead investigational therapy), general corporate purposes, and working capital. ThinkEquity acted as the sole placement agent for the offering.
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About CEL-SCI Corp.
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’s lead investigational therapy Multikine completed a pivotal Phase 3 clinical trial involving head and neck cancer, for which the company has received Orphan Drug Status from the FDA. The company will be commencing a confirmatory trial for Multikine, with enrollment expected to begin in Q4 2024. CEL-SCI has operations in Vienna, Virginia, and near Baltimore, Maryland. For more information about the company, visit https://cel-sci.com/.
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