CVM stock touches 52-week low at $0.37 amid sharp annual decline

Cel-Sci Corp (NYSE:CVM) stock has plummeted to a 52-week low, reaching a price level of just $0.37, far below its 52-week high of $3.08. This significant drop is part of a steep downward trend for the biotechnology company, which has seen its stock value erode by -84.94% over the past year. InvestingPro data reveals concerning fundamentals, with a weak Financial Health Score of 1.47 out of 10 and negative EBITDA of -$25.52M. Investors have been wary as the company faces challenges that have severely impacted its market valuation, with a concerning current ratio of 0.64 indicating short-term liquidity issues. The 52-week low serves as a stark indicator of the hurdles Cel-Sci Corp has encountered, though analyst price targets ranging from $6.20 to $10.00 suggest potential upside. For deeper insights into CVM's financial health and additional analysis, InvestingPro subscribers have access to over 10 additional key insights and metrics.

In other recent news, CEL-SCI Corporation has been making significant strides in the development of its cancer immunotherapy treatment, Multikine. The company recently completed a $5 million stock offering, which will fund the continued development of Multikine. The offering consisted of over 16 million shares, sold at a price of $0.31 per share. ThinkEquity served as the sole placement agent for the transaction.

CEL-SCI has also appointed Dr. Nabil F. Saba, a renowned oncologist, as the Lead of the Study Steering Committee for its upcoming global Phase III clinical trial of Multikine. This strategic decision is expected to bolster the development of Multikine.

The FDA has concurred with CEL-SCI's patient selection criteria for a confirmatory Registration Study, focusing on newly diagnosed head and neck cancer patients with low PD-L1 tumor expression. This follows positive results from a previous Phase 3 study, where patients with low PD-L1 expression showed a significant survival benefit when treated with Multikine.

In addition, the U.S. FDA's Oncologic Drugs Advisory Committee has recently 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. These are the latest developments in CEL-SCI's efforts to advance its cancer treatment.

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