Update: I stand corrected. My apologies. Cel-Sci has enrolled a single patient into its phase III head-and-neck cancer study of Multikine, according to a press release issued on March 29 not by Cel-Sci but by a Mississippi hospital participating in the trial.
That puts the score at 16 Cel-Sci press releases publicizing the start of the Multikine study to one patient enrolled. The original version of this column stated incorrectly that Cel-Sci had not enrolled any patients yet.
VIENNA, Va. (TheStreet) -- How many press releases does it take to announce the start of a late-stage cancer drug clinical trial?
You'd think a single announcement would suffice, right? Not if you're Cel-Sci (CVM) and the drug in question is Multikine. This is a bit hard to believe, but Cel-Sci has issued 16 (!!!) press releases over the past year publicizing or promising the start of the Multikine phase III study in head-and-neck cancer.Sixteen press releases! The funniest bit: In the first of these press releases, issued on May 5, 2010, Cel-Sci said the first patient would be enrolled in the Multikine trial by the third quarter 2010. Cel-Sci missed the mark by six months. While Cel-Sci has still not said anything about patient enrollment, a Mississippi hospital announced in late March that it was treating a single patient. For most drug companies, to "start" a clinical trial means enrolling patients. Not so much for Cel-Sci, apparently. At this rate, Cel-Sci is on track to issue more press releases about the "start" of the Multikine study than the actual number of patients -- 800 -- expected to finally enroll. I feel badly for Cel-Sci's PR man Gavin de Windt, who is running out of ways to entice investors with old and irrelevant news. Take today, for instance, Cel-Sci said Taiwan granted "final government approval" to commence the study. Back on Dec. 12, 2010, however, Cel-Sci told investors that Taiwan had granted "government approval" for the same study. Not the same thing? Really? Two months before that, on Oct. 12, 2010, Cel-Sci issued a press release heralding the approval of the study by a Taiwanese institutional review board. India and Russia/Ukraine were also countries receiving the multi-Multikine press release treatment. As I've said before, Cel-Sci is taking investors on an around-the-world tour as it issues press releases on each and every country allowing the Multikine phase III study to proceed -- Russia, Ukraine, Taiwan, Hungary, Mississippi (a state, not a country, I know), India, Canada, Israel. It takes a village to raise a child but a mini-U.N. to conduct a Multikine phase III study. But you already knew that. Sixteen times over. --Written by Adam Feuerstein in Boston.
>To contact the writer of this article, click here: Adam Feuerstein. >To follow the writer on Twitter, go to http://twitter.com/adamfeuerstein. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV