CEL-SCI Raises $10M in Public Offering to Fund Multikine Development

CEL-SCI Corporation has priced a $10 million public stock offering at $9.00 per share. The proceeds will fund Multikine development, general corporate purposes, and working capital. ThinkEquity is the sole placement agent, with the offering expected to close on August 29, 2025. The net proceeds will be used to further develop Multikine, an immunotherapy product for head and neck cancer.

CEL-SCI Corporation (NYSE:CVM) has priced a $10 million public offering of common stock at $9.00 per share. The offering, facilitated by sole placement agent ThinkEquity, is expected to close on August 29, 2025, subject to customary closing conditions. The proceeds will be used to fund the continued development of Multikine, the company's lead immunotherapy treatment for head and neck cancer, as well as for general corporate purposes and working capital [1].

The offering represents a 31% discount to CEL-SCI's previous closing price of $13.04, which has triggered a significant sell-off in the company's shares. The new equity issuance dilutes existing shareholders at a price substantially below recent trading levels, reflecting market sentiment towards the company's current financial situation and the challenges it faces in advancing its clinical programs [2].

The capital raise is a strategic move for CEL-SCI, aiming to accelerate the development of Multikine and secure regulatory approvals in both the U.S. and Saudi Arabia. The company's dual-market strategy leverages the U.S. FDA's fast-track potential and Saudi Vision 2030's $15 billion oncology market, with a Q3 2025 Saudi partnership expected. The CEO's decision to forgo his salary underscores fiscal discipline, ensuring that every dollar is directed towards high-impact milestones [1].

The significant discount in the offering price and the subsequent share sell-off highlight the market's cautious stance towards CEL-SCI's financial prospects. However, the company's strategic focus on neoadjuvant immunotherapy and its alignment with global health trends present a compelling case for investors with a high-risk tolerance. The potential rewards, including a first-in-class immunotherapy with dual revenue streams, could be substantial if the company successfully navigates the regulatory landscape and clinical trial uncertainties [1].

References:
[1] https://www.ainvest.com/news/cel-sci-10m-equity-raise-strategic-implications-multikine-development-high-risk-high-reward-play-oncology-innovation-2508/
[2] https://za.investing.com/news/stock-market-news/celsci-stock-falls-after-pricing-10m-public-offering-at-discount-93CH-3858982