Cel-Sci Corp (NYSE:CVM) stock has reached a new 52-week low, touching down at $0.42, significantly below its 52-week high of $3.08. This latest price level reflects a significant downturn for the biotechnology company, which has seen its stock value decrease by -77.94% over the past year. InvestingPro analysis reveals concerning fundamentals, with a weak overall Financial Health score of 1.52 out of 10. Investors are closely monitoring Cel-Sci’s performance, as the company navigates through a challenging period marked by this notable decline. With a current ratio of 0.64 and EBITDA of -$25.52M in the last twelve months, the company faces significant operational challenges. The 52-week low serves as a critical indicator for shareholders and potential investors, who are assessing the company’s market position and future prospects in the competitive biotech industry. InvestingPro subscribers have access to 11 additional key insights about CVM’s financial health and market position.
In other recent news, CEL-SCI Corporation has been making significant strides in the development of its cancer treatment, Multikine. The company has appointed Dr. Nabil F. Saba, a renowned oncologist, to lead its upcoming global Phase III clinical trial. This development comes on the heels of the FDA’s concurrence with CEL-SCI’s approach to patient selection for a confirmatory Registration Study of Multikine, focusing on newly diagnosed head and neck cancer patients with low PD-L1 tumor expression.
The company also received a pediatric study waiver for Multikine from the UK’s Healthcare Products Regulatory Agency, eliminating the need for trials in patients under 18 as part of the UK marketing approval process. In addition, CEL-SCI Corporation announced a public offering of 10,845,000 shares, aiming to raise gross proceeds of $10.8 million for the further development of Multikine and general corporate needs.
The U.S. FDA’s Oncologic Drugs Advisory Committee has expressed concerns over the use of certain immune checkpoint inhibitors in patients with low PD-L1 expression. This could potentially pave the way for alternative treatments like Multikine, which has shown promise for patients with low PD-L1 expression.
The company reported positive outcomes from a comprehensive bias analysis for its Phase 3 study of Multikine, supporting its clinical effect in extending patient survival. However, it is important to note that these are recent developments and that Multikine is still under investigation. Its safety and efficacy have not yet been established for any use.
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