Drug developer CEL-SCI plunges after unveiling stock offering

CEL-SCI

27/08/2025 22:37

** Cancer drug developer CEL-SCI's CVM.A shares plunge 19.5% to $10.50 in extended trading

** CVM unveils proposed public offering of stock and pre-funded warrants; size not disclosed

** Proceeds from offering will be used to fund continued development of Multikine - its treatment for head and neck cancer - and other purposes

** ThinkEquity acting as sole placement agent for the offering

** CVM has 6.9 million outstanding shares for $89.7 million market cap, per LSEG data

** As of last close, CVM stock up 8.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))