drkazmd65
15 hours ago
Change in management - New Chairman - Guy with experience in raising money.
https://feeds.issuerdirect.com/news-release.html?newsid=5946140769547282
July 8, 2024 9:15 AM
CEL-SCI Appoints Robert Watson as Chairperson of the Board
CEL-SCI Corporation (NYSE American: CVM) today announced that Robert (“Bob”) Watson, who has served as a Director of the Company since 2017, has been appointed Chairperson of the Board.
Bob is an accomplished business leader who began his career as an investment banker. With over four decades of experience across various healthcare markets, Bob brings extensive expertise in capital formation strategies and partnerships to drive an efficient capital structure. During his career as CEO or President of private and publicly traded companies in the healthcare sector, Bob negotiated over a half dozen exits and more than $750 million in capital transactions including IPOs, secondary offerings, and debt instruments.
“I have greatly appreciated Bob’s guidance as a Director of CEL-SCI. His recent retirement from an active CEO role created the bandwidth for him to assume additional responsibilities as our Chairperson. The team and I are excited to have Bob involved at this level where his capital markets expertise will be highly valuable,” stated CEL-SCI CEO Geert Kersten.
Based on robust efficacy and safety data in over 750 patients for its immunotherapy drug, Multikine, CEL-SCI received the U.S. Food and Drug Administration’s go-ahead to conduct a confirmatory Registration Study for the treatment of newly diagnosed advanced primary head and neck cancer. Multikine, a true first-line cancer therapy, significantly extended life in its target patient population demonstrating a 73% survival rate with Multikine vs. only 45% without at 5 years after treatment. The small, focused, confirmatory Registration Study will enroll only 212 patients with a high unmet need for an estimated 100,000 patients annually.
Bob Watson commented, “Having been on the path with CEL-SCI toward FDA approval of Multikine, it is my honor to be able to stand side by side with the management team as we complete the final leg of this amazing journey to bring a pre-surgical immunotherapy to patients with head and neck cancer. As stated previously, we are very confident that the Registration Study will confirm the excellent safety and efficacy results demonstrated in prior studies.”
About CEL-SCI Corporation
CEL-SCI believes that boosting a patient’s immune system while it is still intact should provide the greatest possible impact on survival. Multikine is designed to help the immune system "target" the tumor at a time when the immune system is still relatively intact and thereby thought to be better able to mount an attack on the tumor.
Multikine (Leukocyte Interleukin, Injection), a true first-line cancer therapy, has been dosed in over 750 patients and received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma (cancer) of the head and neck. Multikine significantly extended life in its target patient population demonstrating a 73% survival rate with Multikine vs. only 45% without at 5 years after treatment. Based on this very strong data, the FDA agreed to CEL-SCI’s target patient selection criteria and gave the go-ahead to conduct a small, focused, confirmatory Registration Study which will enroll 212 patients. CEL-SCI will enroll newly diagnosed advanced primary head and neck cancer patients with no lymph node involvement (determined via PET scan) and with low PD-L1 tumor expression (determined via biopsy), representing over 100,000 patients annually.
The Company has operations in Vienna, Virginia, and near/in 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, 2023. 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. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240708501317/en/
Gavin de Windt
CEL-SCI Corporation
(703) 506-9460
Phoenix2020
3 days ago
Friday's daily short sale volume was 55.72% (as reported by FINRA) but despite all the heavy manipulations by the shorts, the PPS went up 10.00%. The short borrow fee went up to 85.44% and the short shares availability came down from more than a million shares to only 2000 shares that are currently available! With all the expected news coming in from EMA, MHRA, Health Canada and FDA, it should just be a matter of time until Multikine will be approved and the heavy manipulation by the shorts will come to an end. To keep the PPS low, the shorts have increased their position to currently 8.04 million shorted shares (short float of 15.33%) - up almost 1 million shares since last month. I am so happy for all the cancer patients who will hopefully soon be able to profit from Multikine! GLTAL!! Tick tock, tick tock...
exwannabe
3 weeks ago
I suspect that enrollment will indeed take about that 'year' - unless some big pharma with deep pockets signs on an starts opening some doors for them and shaking the 'money tree' to grease the skids. That could speed things up by at least a couple of months.
A year would be blazing fast. This indication is about 1/3 the size of the previous trial, so enrollment will be slower. That trial maxed out at about 25/month. I would think 10-15 a month would be reasonable once they get the same number of sites up. But it takes a long time to bring sites up, does not happen in a few months.
I do think that a conditional approval for Multikine, based on beneficial tumor regression data, is possible by sometime in 2026 as well.
That is probably the million dollar question. I would want to see the actual trial design before having a firm opinion, but there are issues here. To my knowledge the only surrogate the FDA has accepted in this area is pCR (pathological complete response, no tumor present in the surgically removed material). The other is that arms cannot be compared as the treatment arm delays surgery while the placebo arm does not.
Clearly this is a huge question one way or the other. OS will of course be many years later if needed.
CapHillGuy
4 weeks ago
Curious if anyone else caught the Cel-Sci/CVM short commercial ad on CNBC this morning like 8ish EDT? It was v short, like 15s ish, and I was so caught off-guard by it, didn’t really catch what the message was, other than seeing/hearing the cos name, stock symbol etc. It’s the first time I ever saw them do an ad, esp during a prime show like the Squawk Box segment, thought it interesting and wanted to share.
DocKB
1 month ago
From Zack's:
CVM: Confirmatory Study Clarity
05/21/2024
By John Vandermosten, CFA
NYSE:CVM
READ THE FULL CVM RESEARCH REPORT
First Quarter Fiscal Year 2024 Update
CEL-SCI Corporation (NYSE:CVM) reported its fiscal second quarter on May 15, 2024 with the submission of its Form 10-Q with the SEC and a press release on the following day. Since our previous update in mid-April, CEL-SCI reported that it had received a nod from the FDA on the design of a confirmatory study allowing it to proceed and announced a new director. Other highlights during the period include the grant of a waiver for pediatric requirements by the European Medicines Agency (EMA) and an article featuring CEL-SCI’s Ligand Epitope Antigen Presentation System (LEAPS) technology in Frontiers in Immunology.
Financial Review
CEL-SCI recognized no revenues for its fiscal second quarter ending March 31, 2023 and incurred operating expenses totaling $7.1 million during the three-month period. This resulted in a net loss available to common shareholders of ($7.2) million, or ($0.14) per share.
For the quarter ending March 31, 2023 versus the same prior year period:
? Expenses for research and development fell 24% to $4.6 million from $6.1 million. Lower Phase III study, employee stock compensation and miscellaneous costs contributed to the decrease;
? General and administrative expenses increased 17% to $2.4 million from $2.1 million on higher consulting fees, employee stock compensation and other miscellaneous expenses;
? Other non-operating items were $14,000 compared to ($8,000) in the prior year;
? Net interest expense of ($0.2) million compared with ($0.2) million was related to lease liabilities and was relatively constant;
? Net loss totaled ($6.7) million versus ($8.0) million or ($0.14) and ($0.18) per share, respectively.
As of March 31, 2024, cash and equivalents totaled $5.3 million. Cash burn for the three-month period amounted to approximately ($9.5) million, up from 2Q:23’s ($7.6) million. During the quarter, CEL-SCI closed on a gross $7.8 million in a common stock offering. CEL-SCI holds no debt on its balance sheet.
CEL-SCI Milestones
? EMA waiver for pediatric requirements – January 2024
? Commissioning of Multikine manufacturing facility – 2024
? Appointment of Mario Gobbo to Board of Directors – April 2024
? Feedback from various regulatory agencies - 2024
? Submission of license application to various agencies – 2024+
? Preparation for Multikine confirmatory trial - 2024
LEAPS Article Published in Frontiers in Immunology
Scientific journal Frontiers in Immunology published an article in its March 2024 issue on CEL-SCI’s LEAPS technology as reported in a March 19th press release. While there are approved treatments for rheumatoid arthritis (RA) including adalimumab and other TNF blockers and JAK inhibitors they do not balance adaptive immune homeostasis. These classes of drugs also present the risk of stimulating other disease. CEL-SCI’s CEL-4000 therapeutic vaccine may be able to treat RA while limiting negative side effects by promoting antigen-specific regulatory rather than inflammatory responses, thereby modulating the immunopathological course of RA. In CEL-SCI’s article entitled Current status of immunological therapies for rheumatoid arthritis with a focus on antigen-specific therapeutic vaccines, the authors discuss in-development and approved products for RA and preclinical data for CEL-4000. CEL-SCI’s candidate is able to redirect autoreactive pro-inflammatory memory T cells towards rebalancing the runaway immune/inflammatory responses that characterize it. The drug’s features require the use of more advanced trial design such as adaptive trials and the use of biomarkers for endpoints. The article concludes by asserting that an antigen-specific immunomodulating vaccine, such as CEL-4000, may deliver therapy for RA without weakening important immune defense mechanisms against microbial infections or cancer.
FDA Confirmatory Study Acceptance
On May 8th, CEL-SCI announced that its selection criteria for populating a confirmatory study and study design was cleared by the FDA. In a recent meeting, the agency indicated that the company may move forward with a confirmatory registration study of Multikine. These patients will be newly diagnosed with advanced primary head and neck cancer with no lymph node involvement (determined via PET scan) and with low PD-L1 tumor expression (determined via biopsy). Statistical analysis indicates that 212 subjects will be required to generate the confirmatory data and the FDA has given its blessing to this design. It will be a randomized controlled trial with two arms. The FDA has cleared the trial within the context of the unmet need for squamous cell head and neck cancer (SCCHN).
Based on a discussion of the path forward with the FDA which was included in a 29 page report, the agency responded in written notes accepting the eligibility criteria. It further acknowledged that the nonclinical data appears sufficient, the stratification factors appear reasonable and CEL-SCI’s approach for product specifications is acceptable. Furthermore, the FDA had no safety objections to further treatment of patients with Multikine.
Similar to the IT-MATTERS study, we anticipate that eligible individuals will have a diagnosis of untreated SCCHN, measurable tumor, normal immune function and no use of immunosuppressives in the previous year among other criteria. Based on the performance in the Phase III trial, further population characteristics for the confirmatory study will include patients with no lymph node involvement of the disease and low PD-L1 tumor expression.
The study design calls for a two arm, two stage, 1:1 randomized controlled trial. The first stage will examine pre-surgical response rates, which can be determined shortly after completion of enrollment. Stage two will assess overall survival (OS) as the primary endpoint. Histopathology biomarkers will also be measured.
In its confirmatory trial, CEL-SCI anticipates that it will need to surpass a hurdle of a 10% improvement in overall survival (OS) and produce a hazard ratio of 0.72 or less to merit approval. In the IT-MATTERS study, the target population achieved a 28.5% improvement in OS and produced a hazard ratio of 0.35.
Later sections in the report provided a summary of Multikine’s mechanism of action, emphasizing its ability to enable a local antitumor response to occur. A review of Multikine’s tumor histopathology was provided along with graphics showing pre-surgical response rates and overall survival for the various groupings of patients.
CEL-SCI’s report concluded with a management summary asserting that the FDA recognized an unmet neet for better therapies and is supportive of the confirmatory trial. It also noted the lack of other approved therapies for SCCHN and the lack of success for other immunotherapies in this indication. Details on timing and cost were not provided; however, we anticipate that the management team is in the planning stages for a new trial along with efforts in the other geographies where CEL-SCI seeks to obtain approval.
imanjen13
2 months ago
By now you should have figured out that the daily short sale volume as reported by Finra is not a very good indicator of present or future stock action. A better investment criteria is looking at actual results and future possibilities based on R&D.
There is only one bet to make on this stock: Does Multikine help people with head and neck cancer survive or live longer than those who do not take this treatment. If the results are positive, this company and its shareholders will be a successful.
As for shorting of stocks, with a price this low few investors, other than Market Makers, are participating. If you think about it, sometimes shorts are positive for investors, since, except for bankruptcy, they eventually have to cover and buy to close the position. Ever hear of a short squeeze.
He who sells what isnt' hisn, mst buy it back or go to end prisn- Daniel Drew.
Phoenix2020
2 months ago
Tuesday's daily short sale volume was 69.64% (as reported by FINRA) but despite all the manipulations by the shorts, the PPS went up 3.97%! The short borrow fee went up to 13.90% and the short shares availability came down from more than a million to 15'000! With all the facts and clarifications that we got in the latest Letter to Shareholders and the news coming in from EMA, MHRA, Health Canada and FDA, it should just be a matter of time until Multikine will be approved and the heavy manipulation by the shorts will come to an end. To keep the PPS low, the shorts still have a position of currently 6.7 million shorted shares (short float of 12.75%). I am so happy for all the cancer patients who will hopefully soon be able to profit from Multikine! GLTAL!! Tick tock, tick tock...