This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

CEL-SCI Corporation Reports Third Quarter 2012 Financial Results

CEL-SCI Corporation (NYSE MKT: CVM) announced today financial results for the fiscal quarter ended June 30, 2012.

CEL-SCI reported that net loss available to common shareholders for the quarter ended June 30, 2012 was $(835,446) versus $(3,114,255) during the same quarter ended June 30, 2011. The loss during the quarter ended June 30, 2012 was reduced because of the increased gain on derivative instruments and an overall reduction in operating expenses versus the quarter ended June 30, 2011. Net loss per common share, (basic) was $(0.00) for the quarter ended June 30, 2012 versus $(0.01) during the same quarter ended June 30, 2011. The operating loss for the quarter ended June 30, 2012 was $(4,213,098) versus $(4,845,744) during the same quarter ended June 30, 2011. Net loss available to common shareholders for the nine months ended June 30, 2012 was $(15,079,238) versus $(24,463,180) during the same nine months ended June 30, 2011. Net loss per common share, (basic) was $(0.06) for the nine months ended June 30, 2012 versus $($0.12) during the same nine months ended June 30, 2011. The operating loss for the nine months ended June 30, 2012 was $(12,918,731) versus $(14,258,774) during the same nine months ended June 30, 2011.

R&D expenses for the quarter ended June 30, 2012 totaled $2,469,166 versus R&D expenses of $2,924,771 for the quarter ended June 30, 2011. R&D expenses for the nine months ended June 30, 2012 totaled $7,519,586 versus R&D expenses of $9,231,296 for the nine months ended June 30, 2011. R&D expenses related to the running of the Company’s Phase III clinical trial declined because of lower Multikine manufacturing expenditures and the reduction in site initiation expenses since most clinical sites were already initiated prior to the quarter ending June 30, 2012.

"Our Phase III study is continuing to enroll patients on a continuous basis on three continents around the world. We recently presented CEL-SCI and the Multikine head and neck cancer Phase III study at the 8 th International Head and Neck Cancer conference in Toronto, Canada and interest was high among clinical investigators in joining our study. We continue to believe that adding our Multikine immunotherapy to the existing head and neck cancer treatments will create a new paradigm for the treatment of head and neck cancer," said Geert Kersten, CEO of CEL-SCI Corporation.

About CEL-SCI Corporation

CEL-SCI is dedicated to research and development directed at improving the treatment of cancer and other diseases by utilizing the immune system, the body's natural defense system. Its lead investigational therapy is Multikine (Leukocyte Interleukin, Injection), currently being studied in a pivotal global Phase III clinical trial. CEL-SCI is also developing (and investigating) an immunotherapy (LEAPS-H1N1-DC) as a possible treatment for H1N1 hospitalized patients and as a vaccine (CEL-2000) for Rheumatoid Arthritis using its LEAPS technology platform. The LEAPS drug candidates are currently in preclinical testing. The investigational immunotherapy LEAPS-H1N1-DC treatment involves non-changing regions of H1N1 Pandemic Flu, Avian Flu (H5N1), and the Spanish Flu, as CEL-SCI scientists are very concerned about the possible emergence of a new more virulent hybrid virus through the combination of H1N1 and Avian Flu, or maybe Spanish Flu. The Company has operations in Vienna, Virginia, and in/near Baltimore, Maryland.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs