Asahi shares mark weekly slide after cyberattack halts production
Cel-Sci Corp (NYSE:CVM) stock has plummeted to a 52-week low, trading at $0.26, as the biotechnology firm faces a challenging period marked by a significant decrease in its market value. InvestingPro data reveals the company’s financial health score stands at a concerning 1.39, labeled as ’WEAK’, with the stock down 10.7% in just the past week. Over the past year, the company has seen its stock price erode by an alarming 85.79%, reflecting investor concerns and potentially broader sectoral headwinds. This steep decline has brought the company’s shares to a level not seen in the last year, underlining the urgency for a strategic turnaround to regain investor confidence and market stability. Despite current challenges, analysts maintain price targets ranging from $6 to $10, though InvestingPro subscribers have access to 8 additional key insights about CVM’s financial outlook and market position.
In other recent news, CEL-SCI Corporation has shared significant updates regarding its cancer treatment efforts. The company announced it has received feedback from the FDA on its Statistical Analysis Plan for the Multikine confirmatory Registration Study, which requires no further response from CEL-SCI. This study aims to confirm previous Phase 3 findings that showed a 5-year survival rate of 73% for patients treated with Multikine, compared to 45% for those receiving standard care. CEL-SCI has also completed a $5 million stock offering to fund the ongoing development of Multikine, with ThinkEquity acting as the sole placement agent for the transaction. The funds will support the confirmatory Registration Study, which targets 212 patients and seeks accelerated approval based on early tumor response data. The company is in discussions to secure non-dilutive funding for this study. CEL-SCI’s CEO, Geert Kersten, has expressed confidence in the study’s prospects, citing positive feedback from physicians and a biostatistician’s assessment of a high chance of success. The company is also opening clinical sites for the study in multiple countries, with the first expected in the United States.
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