These hedge funds sued Cel-Sci in October 2009 asking for $30 million in actual damages, $90 million in punitive damages and reduction in the conversion price of the Cel-Sci convertible notes and warrants they purchased in 2006. Cel-Sci ended the first quarter with $17.7 million in cash. In its first-quarter regulatory filing, Cel-Sci warned that additional cash or long-term financing will be required for the company to continue funding its Multikine clinical trial and possibly seek regulatory approval. The company is still in the beginning stages of a phase III study of Multikine that could take years to complete. Cel-Sci shares closed Monday at 68 cents. --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: firstname.lastname@example.org.