CEL-SCI prices $5.5m common stock offering

December 24, 2019 By Sean Whooley Leave a Comment

Phase 3 cancer immunotherapy company Cel-Sci (NYSE:CVM) announced today that it priced an underwritten public offering of common stock with expected gross proceeds of $5.5 million.

Vienna, Va.–based Cel-Sci is offering 606, 395 shares of common stock at a price of $9.07 per share to total the $5.5 million before deducting underwriting discounts and other estimated expenses. The company also granted the underwriters a 45-day option to purchase up to 90,959 additional common stock shares.

Cel-Sci said it plans to use the net proceeds from the offering to fund the development of its Multikine and Leaps treatments, as well as for other corporate funds, according to a news release.

Multikine is an immunotherapeutic agent in development to become a first-line neoadjuvant therapy in patients with squamous cell carcinoma of the head and neck, and potentially as a treatment for cervical dysplasia or peri-anal warts in HIV/HPV co-infected patients. Leaps is a T-cell modulation, peptide epitope delivery system designed to synthesize proprietary peptide immunogens.

Aegis Capital is acting as the sole book-runner for Cel-Sci’s offering, which the company expects to close on or about Dec. 27.

BARDA opens research portal to fight COVID-19
By James Keller, Emergo Group The Biomedical Advanced Research and Development Authority (BARDA), which is part of the US Health and Human Services Office of the Assistant Secretary for Preparedness and Response, is seeking information from stakeholders on available medical countermeasures in development. It is particularly interested in products and technologies that have progressed into… […]
Group seeks manufacturers’ input to reduce medical supply shortages
The National Center for Manufacturing Sciences (NCMS) today announced a new partnership with the U.S. Department of Defense (DOD) and the Federal Emergency Management Agency (FEMA) to reduce the critical shortage of medical equipment and supplies due to the coronavirus pandemic. The industry organization said it is seeking feedback from advanced manufacturing companies about capability,… […]
What is medical tubing used for?
Medical tubing is designed for a number of applications that allow clinicians to administer fluid and devices or allow for gas flow. Common applications of medical tubing include ventilators and IVs, but tubing also finds uses supporting access devices and as a delivery method for other devices. For example, tubing can be used to drive […]
Hack the Crisis: Clippard expects growth as it increases production for ventilator pneumatics
Mary Gannon, Fluid Power World Cincinnati-based Clippard said today it expects to hire more staff to meet the growing demand for its components and subassemblies for ventilators, diagnostic equipment and other critical care devices to help fight the coronavirus. The company manufactures valves, electronic pressure controls, custom assemblies, cylinders, air-preparation equipment and fittings for hose… […]
EPA inspector general wants more public input on ethylene oxide exposure
The U.S. Environmental Protection Agency’s inspector general this week recommended opening a channel of communication between government officials and people who live near 25 plants that use ethylene oxide (EtO), including eight used for sterilizing medical devices. But EPA administrator Andrew Wheeler objected, publicly indicating that his office was blindsided by the request. The forum… […]
Don’t curb your enthusiasm, but be realistic about MacGyver ventilators
In a coronavirus pandemic in which patients on the best commercial ventilators will die, are garage enthusiasts ready to stand behind their work? Scott Thielman, Product Creation Studio Almost a decade ago, Dr. Robert Clark, a pulmonologist then at Regional Hospital for Respiratory and Complex Care near Seattle, approached my company with a warning and an… […]
CDC weighs DIY facemasks for the general public. Here’s the science behind mask materials.
It looks as though the U.S. Centers for Disease Control and Prevention (CDC) may end up strongly suggesting that Americans cover their faces in public until the coronavirus pandemic plays out. The Washington Post reports the recommendations now being floated would call for the use of cloth coverings instead of hard-to-find surgical and N95 masks. This great… […]
Sterigenics wins temporary nod to reopen Atlanta plant
Sterigenics won a temporary restraining order today against Cobb County, Ga., allowing it to resume normal operations at its Atlanta medtech sterilization plant for two weeks. Oak Park, Ill.-based Sterigenics filed suit in U.S. District Court in Atlanta on Monday. The company temporarily shut the Atlanta plant on August 26 to voluntarily upgrade emission controls… […]
SURVEY: Where does medtech go after coronavirus?
The past month has transformed the world, and the medtech industry in particular. But what will the next 12 months of the coronavirus pandemic bring? Please take three minutes to answer this short survey. We’d like to know how you see the medtech industry changing over the next 12 months. What recent pivots will become… […]
Could these DIY ventilators stop coronavirus from killing people?
Amid the global crisis caused by the coronavirus pandemic, hospitals and healthcare facilities are reporting shortages of vital equipment that not only keeps the patients safe, but the staffers, too. One important device for which demand has ramped up is ventilators for patients who need assistance with their breathing due to the respiratory effects of… […]
Sterigenics sues Ga. county to keep EtO plant open after emergency
Sterigenics has sued the government of a Georgia county to force a permanent reopening of the company’s Atlanta medtech sterilization plant. Officials of Cobb County, Ga. recently gave Sterigenics permission to reopen the plant for 21 days to sterilize personal protective equipment for healthcare workers treating COVID-19 patients. Sterigenics had told county officials it has… […]