CEL-SCI Announces Proposed Public Offering of Common Stock
May 06 2015 - 5:00AM
Business Wire
CEL-SCI Corporation (NYSE MKT:CVM) announced today that
it has commenced an underwritten public offering of $35.0 million
of its common stock. CEL-SCI intends to grant the underwriter a
30-day option to purchase up to an additional $5.25 million of its
common stock. FBR Capital Markets & Co. is acting as sole
book-running manager for the offering.
CEL-SCI intends to use the net proceeds from the offering
primarily to complete patient enrollment in its Phase 3 clinical
trial of Multikine (Leukocyte Interleukin, Injection) as a
neoadjuvant therapy for patients with squamous cell carcinoma of
the head and neck, to fund the Phase 1 trial of Multikine in
HIV/HPV co-infected patients with anal warts, to repay a $1.1
million note upon maturity in July 2015 and for general corporate
purposes.
The offering will be made by CEL-SCI pursuant to a shelf
registration statement on Form S-3 declared effective by the
Securities and Exchange Commission (“SEC”) on July 8, 2014. A
preliminary prospectus supplement and accompanying prospectus
related to the offering have been filed with the SEC and are
available on the SEC’s website located at http://www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying
prospectus relating to the offering may be obtained from FBR
Capital Markets & Co., Attention: Syndicate Prospectus
Department, 1300 North 17th Street, Arlington, Virginia 22209,
Telephone: 703-312-9500, Email: prospectuses@fbr.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or other jurisdiction.
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.
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
CEL-SCI’s potential products, inability to raise the necessary
capital and the risk factors set forth from time to time in
CEL-SCI’s SEC filings, including but not limited to its report on
Forms 10-K and 10-K/A for the year ended September 30, 2014.
CEL-SCI undertakes no obligation to publicly release the result of
any revision to these forward-looking statements that may be made
to reflect the events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
CEL-SCI CorporationGavin de Windt, 703-506-9460
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