CEL-SCI Corporation (NYSE AMEX: CVM) reported today financial results for its third fiscal quarter for the period ended June 30, 2011.
CEL-SCI reported a net loss for the three months ended June 30, 2011 of ($3.1) million versus a loss of ($0.6) million during the same three months ended June 30, 2010. Net loss per basic share was ($0.01) for the three months ended June 30, 2011 versus a loss per basic share of ($0.00) during the same three months ended June 30, 2010.
Net loss for the nine months ended June 30, 2011 was ($23.4) million, versus a net income of $17.8 million during the same nine months ended June 30, 2010. Net loss per basic share was ($0.12) for the nine months ended June 30, 2011 versus a net income per basic share of $0.08 during the same nine months ended June 30, 2010.
R&D expenses for the three months ended June 30, 2011 totaled $2.9 million versus R&D expenses of $1.6 million for the same three months ended June 30, 2010. R&D expenses for the nine months ended June 30, 2011 totaled $9.2 million versus R&D expenses of $7.7 million for the same three months ended June 30, 2010.Geert Kersten, Chief Executive Officer said, “Our Phase III clinical trial for head and neck cancer is proceeding well. So far, we have 22 centers that are enrolled in the study in eight countries. The centers are actively screening/enrolling patients. We have produced two clinical lots of Multikine ® from which patients are being treated.” About CEL-SCI Corporation CEL-SCI Corporation is developing products that empower immune defenses. Its lead product, Multikine is currently being tested in a global Phase III clinical trial that started in December 2010. In Phase II clinical trials Multikine was shown to be safe and well-tolerated and to improve the patients overall survival by 33 percent at a median of three and half years following surgery.
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