On May 6, 2015 CEL-SCI Corporation (NYSE MKT: CVM) reported that it has commenced an underwritten public offering of $35.0 million of its common stock (Press release, Cel-Sci, MAY 6, 2015, View Source [SID:1234506573]). CEL-SCI intends to grant the underwriter a 30-day option to purchase up to an additional $5.25 million of its common stock. FBR Capital Markets & Co. is acting as sole book-running manager for the offering.
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CEL-SCI intends to use the net proceeds from the offering primarily to complete patient enrollment in its Phase 3 clinical trial of Multikine (Leukocyte Interleukin, Injection) as a neoadjuvant therapy for patients with squamous cell carcinoma of the head and neck, to fund the Phase 1 trial of Multikine in HIV/HPV co-infected patients with anal warts, to repay a $1.1 million note upon maturity in July 2015 and for general corporate purposes.
The offering will be made by CEL-SCI pursuant to a shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission ("SEC") on July 8, 2014. A preliminary prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website located at View Source Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from FBR Capital Markets & Co., Attention: Syndicate Prospectus Department, 1300 North 17th Street, Arlington, Virginia 22209, Telephone: 703-312-9500, Email: [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.