CEL-SCI Announces Adjustment to Warrant Exercise Price
January 16 2018 - 8:00AM
Business Wire
CEL-SCI Corporation (NYSE American: CVM) announced today
that the outstanding Series S warrants (CUSIP number 150837177)
that are publicly traded under the symbol “CVM WS” on the NYSE
American have been repriced to $3.00 per share of common stock for
a three month period which will end on April 12, 2018. After this
date, the exercise price will revert back to $31.25 per share of
common stock. As a result of the reverse stock split which became
effective on the NYSE American on June 15, 2017, 25 warrants are
required to purchase one share of common stock. The warrants expire
on October 11, 2018.
About CEL-SCI Corporation
CEL-SCI is a Phase 3 cancer immunotherapy company. When it comes
to cancer immunotherapy, CEL-SCI believes it is most logical to
boost the patient’s immune system while it is still intact in order
to have the greatest possible impact on survival. Therefore,
CEL-SCI treats patients who are newly diagnosed with head and neck
cancer with its lead investigational immunotherapy Multikine*
(Leukocyte Interleukin, Injection), BEFORE they have received
surgery, radiation and/or chemotherapy, at a time when the immune
system should be at its strongest. This approach is unique. Most
other cancer immunotherapies are used only after conventional
therapies have been tried and/or failed. Head and neck cancer
represents about 6% of all cancers. Multikine has received Orphan
Drug designation from the FDA for the treatment of head and neck
cancer patients with advanced squamous cell carcinoma.
The Company’s LEAPS technology is being developed as a potential
therapeutic vaccine for rheumatoid arthritis and is supported by a
grant from the National Institute of Arthritis and Musculoskeletal
and Skin Diseases of the National Institutes of Health. 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.
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 for the year
ended September 30, 2017. 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.
* Multikine (Leukocyte Interleukin, Injection) is the trademark
that CEL-SCI has registered for this investigational therapy, and
this proprietary name is subject to FDA review in connection with
the Company's future anticipated regulatory submission for
approval. Multikine has not been licensed or approved for sale,
barter or exchange by the FDA or any other regulatory agency.
Similarly, its safety or efficacy has not been established for any
use. Moreover, no definitive conclusions can be drawn from the
early-phase, clinical-trials data involving the investigational
therapy Multikine. Further research is required, and early-phase
clinical trial results must be confirmed in the Phase 3 clinical
trial of this investigational therapy that is in progress.
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CEL-SCI CorporationGavin de Windt, 703-506-9460
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