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CEL-SCI Corporation Reports First Quarter 2013 Financial Results

For more information, please visit www.cel-sci.com.

Multikine is the trademark that CEL-SCI has registered for this investigational therapy, and this proprietary name is subject to FDA review in connection with our 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. Moreover, no definitive conclusions can be drawn from the early-phase, clinical-trials data involving the investigational therapy Multikine (Leukocyte Interleukin, Injection). Further research is required, and early-phase clinical trial results must be confirmed in the well-controlled, Phase III clinical trial of this investigational therapy that is currently in progress.

When used in this report, 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 which 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 Corporation's SEC filings, including but not limited to its report on Form 10- K for the year ended September 30, 2012. 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.

 
CEL-SCI CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
THREE MONTHS ENDED DECEMBER 31, 2012 AND 2011
(unaudited)
 
 
    2012     2011
 
GRANT INCOME AND OTHER $ 15,000 $ 5,024
 
OPERATING EXPENSES:

Research and development (excluding R&D depreciation of $109,545 and $114,612 respectively, included below)

2,924,722 2,456,185
Depreciation and amortization 133,450 138,425
General & administrative   2,001,285     1,853,690  
 
Total operating expenses   5,059,457     4,448,300  
 
OPERATING LOSS (5,044,457 ) (4,443,276 )
 
GAIN ON DERIVATIVE INSTRUMENTS 2,746,198 956,470
 
INTEREST INCOME 29,415 29,055
 
INTEREST EXPENSE   (41,402 )   (123,462 )
 
NET LOSS (2,310,246 ) (3,581,213 )
 
ISSUANCE OF ADDITIONAL SHARES DUE TO RESET PROVISIONS - (250,000 )
MODIFICATIONS OF WARRANTS   -     (325,620 )
 
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS $ (2,310,246 ) $ (4,156,833 )
 
NET LOSS PER COMMON SHARE
BASIC $ (0.01 ) $ (0.02 )
 
DILUTED $ (0.02 ) $ (0.02 )
 

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING

BASIC 283,116,017 228,568,435
 
DILUTED 283,116,017 228,568,435
 




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