Fed Governor Cook sues Trump over firing attempt
VIENNA, Va. - CEL-SCI Corporation (NYSE American: CVM), a biotechnology company, announced today that its Board of Directors has approved a 1-for-30 combination of its common stock. The change is set to take effect when the market opens on Tuesday, with the common stock trading under a new CUSIP number, though the ticker symbol will remain as CVM. The announcement comes as the company’s stock has experienced significant pressure, with InvestingPro data showing an 82% decline over the past year and a current market capitalization of approximately $19.5 million.
This stock combination will convert every 30 shares of existing common stock into one share. The company has clarified that no shareholders will be eliminated through this process, as fractional shares resulting from the combination will be rounded up to the nearest whole share. Furthermore, the exercise price and number of shares issuable upon exercising outstanding warrants and options will be adjusted accordingly.
CEL-SCI CEO Geert Kersten explained that the combination is driven by two primary factors: the company’s current low stock price, which limits investment from many funds, and the preference of major US stock exchanges for companies to maintain a higher share price. Kersten expressed optimism about upcoming months, anticipating that the change might attract more investor interest as the company continues to develop its investigational drugs aimed at treating cancer, autoimmune, and infectious diseases.
Stockholders are not required to exchange their existing stock certificates for new ones unless they choose to do so. Questions regarding the stock combination can be directed to brokers or the company’s transfer agent, Computershare Trust Company.
CEL-SCI is focused on improving patient survival by enhancing the immune system’s response to cancer. Their flagship product, Multikine, has been used in over 740 patients and has received Orphan Drug designation from the FDA for use in certain cancer treatments. The company is preparing to conduct a confirmatory Registration Study based on positive Phase 3 study data.
This announcement is based on a press release statement from CEL-SCI Corporation.
In other recent news, CEL-SCI Corporation is advancing its efforts to gain approval for its cancer immunotherapy, Multikine. The company is preparing to submit a regulatory filing to the Saudi Food and Drug Authority (SFDA) for Conditional Approval of Multikine as a pre-surgical treatment for head and neck cancer, following a positive reception of their Phase 3 study data. This study involved 928 patients and demonstrated a significant survival benefit, with a 5-year survival rate of 73% for those treated with Multikine, compared to 45% for control patients. CEL-SCI is also set to commence its Confirmatory Registration Study for Multikine, targeting patients with newly diagnosed resectable stage 3 and 4 head and neck cancer, no lymph node involvement, and low PD-L1 tumor expression.
The FDA has reviewed the Statistical Analysis Plan for this study and indicated no further response is needed, allowing CEL-SCI to proceed with the trial. Enrollment for this 212-patient trial is expected to be complete by Q2 2026, with early tumor response data being used to seek accelerated approval. CEL-SCI is exploring partnerships for local Multikine manufacturing and distribution in the Middle East and North Africa region, aligning with Saudi Arabia’s Vision 2030. The company has invested over $200 million in its manufacturing processes, with a facility capable of producing more than 12,000 Multikine treatments annually. Analyst feedback suggests a strong potential for success, with CEL-SCI’s CEO expressing confidence in the study’s prospects and the potential to set a new standard of care for head and neck cancer patients.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.