CVM>.benin...you cannot find a drug/bio in Phase 111 as these guys are at this price...one day it will correct...higher.....the CEO has addressed this same point in interviews and by implication is stating that the price of the company is woefully undervalued...perhaps because it is not well known yet...
(PR NEWSWIRE) CEL-SCI Announces $15 Million Financing
CEL-SCI Announces $15 Million Financing
VIENNA, Va., APRIL 18 /PRNewswire-FirstCall/ -- CEL-SCI Corporation
(Amex: CVM), a developer of immune-system based treatments for cancer and
infectious diseases, announces that it has raised $15 million in new equity
financing. The shares were sold at $0.75, a small premium over the closing
price of the last two weeks.
The financing is accompanied by 10 million warrants at $0.75 and 10
million warrants at $2.00. The Company has agreed to register the shares
involved in this financing.
Geert Kersten, Chief Executive Officer of CEL-SCI said, "These funds will
allow us to move forward as planned to start our Phase III clinical trial in
first line advanced primary head and neck cancer. This also allows us to
negotiate with potential partners from a position of strength."
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities.
CEL-SCI Corporation is developing new immune system based treatments for
cancer and infectious diseases. The Company has operations in Vienna, Virginia
and Baltimore, Maryland. The Company's lead product Multikine(R) is cleared to
enter a global Phase III clinical trial in advanced primary head and neck
cancer patients in the U.S. and Canada. CEL-SCI's other products, which are
currently in pre-clinical stage, have shown protection against a number of
diseases in animal tests and are being tested against diseases associated with
bio-defense and avian flu.
When used in this report, the words "intends," "believes," "anticipated"
and "expects" and similar expressions are intended to identify forward-looking
statements. Such statements are subject to risks and uncertainties, which
could cause actual results to differ materially from those projected. Factors
that could cause or contribute to such differences include, an inability to
duplicate the clinical results demonstrated in clinical studies, timely
development of any potential products that can be shown to be safe and
effective, receiving necessary regulatory approvals, difficulties in
manufacturing any of the Company's potential products, inability to raise the
necessary capital and the risk factors set forth from time to time in CEL-SCI
Corporation's SEC filings, including but not limited to its report on Form 10-
K for the year ended September 30, 2006. The Company undertakes no obligation
to publicly release the result of any revision to these forward-looking
statements, which may be made to reflect the events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.
SOURCE CEL-SCI Corporation
Contact Information:
Gavin de Windt of CEL-SCI Corporation, +1-703-506-9460
WebSite:
cel-sci.com
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