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Home » CEL-SCI prices $5.5m common stock offering

CEL-SCI prices $5.5m common stock offering

December 24, 2019 By Sean Whooley

cel-sciPhase 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.

Filed Under: Business/Financial News, Funding Roundup, Oncology Tagged With: cel-sci

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

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