CEL-SCI Announces That the NYSE MKT Approves Plan
February 27 2017 - 9:40AM
Business Wire
CEL-SCI Corporation (NYSE MKT: CVM) announces that the
NYSE MKT (the “Exchange”) has accepted the Company’s plan to bring
itself into compliance with the Exchange's continued listing
standards.
The Company previously received notice from the Exchange on
December 9, 2016, indicating the Company is below compliance with
Section 1003(a)(i), Section 1003(a)(ii) and Section 1003(a)(iii)
since it reported a stockholders’ equity deficit as of June 30,
2016 and had a net losses in its 5 most recent fiscal years ended
September 30, 2015. The Company was afforded the opportunity to
submit a plan to regain compliance, and on January 9, 2017 the
Company submitted its plan to the Exchange.
On February 24, 2017 the Exchange notified the Company that it
accepted the Company's plan of compliance and granted the Company
until June 11, 2018 to regain compliance with the continued listing
standards. The Company will be subject to periodic review during
this period. Failure to make progress consistent with the plan or
to regain compliance with the continued listing standards by the
end of the period could result in the Company being delisted from
the NYSE MKT. The Company may then appeal a staff determination to
initiate such proceedings in accordance with the exchange's Company
Guide.
About CEL-SCI Corporation
CEL-SCI's work is focused on finding the best way to activate
the immune system to fight cancer and infectious diseases. The
Company has operations in Vienna, Virginia, and in/near Baltimore,
Maryland.
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.
Such statements include, but are not limited to, statements about
the terms, expected proceeds, use of proceeds and closing of the
offering. 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 the Company's potential products, inability to
raise the necessary capital and the risk factors set forth from
time to time in CEL-SCI's filings with the Securities and Exchange
Commission, including but not limited to its report on Form 10-K
and 10-K/A for the year ended September 30, 2016. The Company
undertakes no obligation to publicly release the result of any
revision to these forward-looking statements which may be made to
reflect the events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
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version on businesswire.com: http://www.businesswire.com/news/home/20170227005848/en/
CEL-SCI CorporationGavin de Windt,
703-506-9460www.cel-sci.com
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