Drug developer CEL-SCI dives on deep-discounted equity raise

CEL-SCI

28/08/2025 11:16

** Cancer immunotherapy firm CEL-SCI's CVM.A shares down 29.8% premarket to $9.15 after overnight follow-on priced

** Vienna, Virginia-based CVM late Weds said it sold ~1.1 mln shares at $9 for $10 mln gross proceeds

** Offering price represents 31% discount to stock's last sale

** Co plans to use net proceeds to fund continued development of Multikine, its treatment for head and neck cancer, and other purposes

** ThinkEquity sole placement agent for the offering

** With ~6.9 mln shares outstanding, CVM has ~$90 mln market cap through Weds

** CVM shares had risen six prior sessions for ~54% gain, putting them up ~9% YTD

(Reporting by Lance Tupper and Arasu Kannagi Basil)
(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))