CVM stock touches 52-week low at $0.23 amid sharp annual decline

Cel-Sci Corp (NYSE:CVM) stock has plummeted to a 52-week low, reaching a price level of just $0.23, a stark contrast to its 52-week high of $2.39. This significant drop is part of a steep downward trend for the biotechnology company, which has seen its stock value decrease by an alarming 87.6% over the past year. InvestingPro data reveals concerning fundamentals, with an EBITDA of -$24.6 million and a weak overall financial health score of 1.43 out of 10. Investors have been wary as the company faces challenges that have eroded market confidence, leading to a dramatic fall from its previous positions. Despite analyst price targets ranging from $6 to $10, the company operates with $11.09 million in debt and maintains a current ratio of 1.07. The 52-week low marks a critical point for Cel-Sci Corp, as stakeholders consider the company’s future prospects and potential for recovery. For deeper insights into CVM’s financial health and growth potential, InvestingPro subscribers have access to over 10 additional key insights and metrics.

In other recent news, CEL-SCI Corporation announced it has received feedback from the U.S. Food and Drug Administration (FDA) regarding its Statistical Analysis Plan for the Multikine Registration Study, with no further comments required from the FDA. The company is advancing its efforts to gain marketing approval for Multikine, an investigational therapy for head and neck cancer, and plans to commence its Confirmatory Registration Study after submitting the final clinical protocol to the FDA. This study aims to confirm previous Phase 3 findings showing a significant increase in 5-year survival rates for patients treated with Multikine. CEL-SCI completed a $5 million stock offering to fund the continued development of Multikine, general corporate purposes, and working capital requirements. The offering involved 16,130,000 shares of common stock at $0.31 per share, with ThinkEquity acting as the sole placement agent. The company is also in discussions to secure non-dilutive funding for the 212-patient confirmatory study necessary to bring Multikine to market. CEL-SCI’s CEO expressed confidence in the study’s prospects, supported by positive feedback from head and neck cancer physicians. The company has received Orphan Drug designation from the FDA for Multikine as a neoadjuvant therapy in patients with squamous cell carcinoma of the head and neck.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.