CEL-SCI Announces Pricing of $5 Million Public Offering
Generado por agente de IARhys Northwood
domingo, 29 de diciembre de 2024, 8:47 pm ET1 min de lectura
CVM--
CEL-SCI Corporation (CVM), a Phase 3 cancer immunotherapy company, has announced the pricing of a $5 million public offering. The company is offering 3,875,000 shares of its common stock at an offering price of $2.00 per share. The offering is expected to close on February 13, 2024, subject to satisfaction of customary closing conditions.
CEL-SCI plans to use the net proceeds from this offering to fund the continued development of Multikine, for general corporate purposes, and working capital. Multikine is the company's lead immunotherapy, which has been dosed in over 740 patients and received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma (cancer) of the head and neck.
The company's primary focus is on boosting a patient's immune system while it is still intact, which is thought to provide the greatest possible impact on survival. Multikine is designed to help the immune system "target" the tumor at a time when the immune system is still relatively intact and thereby thought to be better able to mount an attack on the tumor.
CEL-SCI believes that the use of proceeds from this offering aligns with its long-term strategic goals and financial projections. The company aims to advance Multikine through clinical development and ultimately bring it to market as a first-line cancer therapy for head and neck cancer patients. By using the funds to support the continued development of Multikine, general corporate purposes, and working capital, CEL-SCI can maintain its operations and financial health while pursuing its long-term strategic objectives.
Investors should monitor the company's progress and make informed decisions based on the available information. The successful development and commercialization of Multikine could create value for shareholders in the long term, but the actual impact will depend on various factors, such as the company's ability to successfully develop and commercialize Multikine, the efficient use of the offering proceeds, and the overall market conditions.
CEL-SCI Corporation (CVM), a Phase 3 cancer immunotherapy company, has announced the pricing of a $5 million public offering. The company is offering 3,875,000 shares of its common stock at an offering price of $2.00 per share. The offering is expected to close on February 13, 2024, subject to satisfaction of customary closing conditions.
CEL-SCI plans to use the net proceeds from this offering to fund the continued development of Multikine, for general corporate purposes, and working capital. Multikine is the company's lead immunotherapy, which has been dosed in over 740 patients and received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma (cancer) of the head and neck.
The company's primary focus is on boosting a patient's immune system while it is still intact, which is thought to provide the greatest possible impact on survival. Multikine is designed to help the immune system "target" the tumor at a time when the immune system is still relatively intact and thereby thought to be better able to mount an attack on the tumor.
CEL-SCI believes that the use of proceeds from this offering aligns with its long-term strategic goals and financial projections. The company aims to advance Multikine through clinical development and ultimately bring it to market as a first-line cancer therapy for head and neck cancer patients. By using the funds to support the continued development of Multikine, general corporate purposes, and working capital, CEL-SCI can maintain its operations and financial health while pursuing its long-term strategic objectives.
Investors should monitor the company's progress and make informed decisions based on the available information. The successful development and commercialization of Multikine could create value for shareholders in the long term, but the actual impact will depend on various factors, such as the company's ability to successfully develop and commercialize Multikine, the efficient use of the offering proceeds, and the overall market conditions.
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