CEL-SCI Announces Proposed Public Offering of Common Stock
CEL-SCI (NYSE American: CVM), a clinical stage cancer immunotherapy company, has announced its intention to conduct a best efforts public offering of common stock and/or pre-funded warrants. The company plans to use the net proceeds to fund the continued development of Multikine, general corporate purposes, and working capital. ThinkEquity is serving as the sole placement agent for the offering. The securities will be offered through a shelf registration statement on Form S-3 filed with the SEC. The completion, size, and terms of the offering are subject to market conditions and are not guaranteed.
CEL-SCI (NYSE American: CVM), un'azienda di immunoterapia contro il cancro in fase clinica, ha annunciato la sua intenzione di effettuare un offerta pubblica a migliori sforzi di azioni ordinarie e/o warrant prefinanziati. L'azienda prevede di utilizzare il ricavato netto per finanziare lo sviluppo continuo di Multikine, scopi aziendali generali e capitale circolante. ThinkEquity funge da unico agente di collocamento per l'offerta. I titoli saranno offerti attraverso una dichiarazione di registrazione shelf sul modulo S-3 presentato alla SEC. Il completamento, la dimensione e i termini dell'offerta sono soggetti alle condizioni di mercato e non sono garantiti.
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CEL-SCI (NYSE American: CVM), une entreprise d'immunoth茅rapie contre le cancer en phase clinique, a annonc茅 son intention de proc茅der 脿 une offre publique 脿 meilleures conditions d'actions ordinaires et/ou de bons de souscription pr茅financ茅s. La soci茅t茅 pr茅voit d'utiliser le produit net pour financer le d茅veloppement continu de Multikine, des fins d'entreprise g茅n茅rales et du fonds de roulement. ThinkEquity agit en tant qu'agent de placement exclusif pour l'offre. Les titres seront propos茅s par le biais d'une d茅claration d'enregistrement de placement sur le formulaire S-3 d茅pos茅 aupr猫s de la SEC. L'ach猫vement, la taille et les conditions de l'offre sont soumis aux conditions du march茅 et ne sont pas garantis.
CEL-SCI (NYSE American: CVM), ein Unternehmen f眉r Krebsimmuntherapie in der klinischen Phase, hat seine Absicht bekannt gegeben, ein Best-Efforts-Publikumangebot von Stammaktien und/oder vorfinanzierten Optionsscheinen durchzuf眉hren. Das Unternehmen plant, den Nettoerl枚s zur Finanzierung der kontinuierlichen Entwicklung von Multikine, allgemeinen Unternehmenszwecken sowie Betriebskapital zu verwenden. ThinkEquity fungiert als alleinige Platzierungsagentur f眉r das Angebot. Die Wertpapiere werden 眉ber eine Shelf-Registrierungsmitteilung auf dem Formular S-3 angeboten, die bei der SEC eingereicht wurde. Der Abschluss, die Gr枚脽e und die Bedingungen des Angebots unterliegen den Marktbedingungen und sind nicht garantiert.
- Potential capital raise to fund Multikine development
- Secured ThinkEquity as placement agent
- Already has effective shelf registration statement
- Potential shareholder dilution from new stock issuance
- Best efforts offering indicates uncertainty in completion
- Suggests possible cash constraints requiring immediate funding
Insights
For context, biotech companies often require substantial capital for clinical development and this offering follows a common pattern of smaller cap companies needing to tap public markets. However, the best efforts structure and current market environment could make pricing challenging.
While raising capital is necessary for clinical-stage biotechs, the timing and structure raise some concerns about the company's current position. The best efforts format typically indicates lower confidence in demand compared to traditional underwritten offerings. The inclusion of pre-funded warrants, often used when straight equity is difficult to sell, could signal challenges in attracting traditional institutional investors.
In simpler terms: Think of this like a company selling additional pieces of itself to fund important research, but doing it in a way that suggests they're not in the strongest negotiating position. This could make the stock price volatile in the near term as the market digests both the dilution impact and what this says about the company's financial health.
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 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
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.
About CEL-SCI Corporation
CEL-SCI believes that boosting a patient鈥檚 immune system while it is still intact should 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.
Multikine (Leukocyte Interleukin, Injection), a true first-line cancer therapy, 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. Based on the data from the completed randomized controlled Phase 3 study, the FDA concurred with CEL-SCI鈥檚 target patient selection criteria and gave the go-ahead to conduct a confirmatory Registration Study which will enroll 212 patients. CEL-SCI will enroll newly diagnosed locally advanced primary treatment na茂ve resectable head and neck cancer patients with no lymph node involvement (determined via PET scan) and with low PD-L1 tumor expression (determined via biopsy), representing about 100,000 patients annually.
The Company has operations in
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 press release, the words "intends," "believes," "anticipated," "plans" and "expects," 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 projected. Such statements include, but are not limited to, statements about the proposed offering. 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'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 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, except as may be required under applicable securities law.
* Multikine (Leukocyte Interleukin, Injection) is the trademark that CEL-SCI has registered for this investigational therapy. This proprietary name is subject to FDA review in connection with the Company's future anticipated regulatory submission for approval. Multikine has not been licensed or approved for sale, barter or exchange by the FDA or any other regulatory agency. Similarly, its safety or efficacy has not been established for any use.
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Gavin de Windt
CEL-SCI Corporation
(703) 506-9460
Source: CEL-SCI Corporation
FAQ
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