Drug developer CEL-SCI dives on deep-discounted equity raise

ReutersAug 28, 2025 10:16 AM

Cancer immunotherapy firm CEL-SCI's CVM.A shares down 29.8% premarket to $9.15 after overnight follow-on priced

Vienna, Virginia-based CVM late Weds said it sold ~1.1 mln shares at $9 for $10 mln gross proceeds

Offering price represents 31% discount to stock's last sale

Co plans to use net proceeds to fund continued development of Multikine, its treatment for head and neck cancer, and other purposes

ThinkEquity sole placement agent for the offering

With ~6.9 mln shares outstanding, CVM has ~$90 mln market cap through Weds

CVM shares had risen six prior sessions for ~54% gain, putting them up ~9% YTD

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