CVM stock touches 52-week low at $2.32 amid sharp annual decline

In a challenging year for Cel-Sci Corp (NYSEAMERICAN:NYSE:CVM), the biotechnology company’s stock has plummeted to a 52-week low, trading at $2.32. According to InvestingPro data, the company’s financial health score stands at a concerning 1.34, labeled as ’WEAK’, with a debt-to-equity ratio of 1.32. This latest price point underscores a tumultuous period for the firm, which has seen its market value erode by an alarming 93.48% over the past year. Investors have grappled with a series of setbacks, including clinical trial results and market dynamics that have not favored the company’s portfolio. The stock’s RSI indicates oversold territory, while the company’s rapid cash burn rate and negative EBITDA of -$23.94M highlight operational challenges. The steep year-on-year decline reflects broader investor sentiment and places Cel-Sci Corp’s stock at a critical juncture as the market continues to assess its long-term viability and the potential for a turnaround. InvestingPro subscribers have access to 12 additional key insights about CVM’s financial position and market outlook.

In other recent news, CEL-SCI Corporation has announced plans for an underwritten public offering of its common stock, with proceeds intended to support the development of its Multikine therapy. The offering, managed by ThinkEquity, aims to bolster the company’s working capital and fund ongoing projects. Additionally, CEL-SCI is seeking Breakthrough Medicine Designation for Multikine from the Saudi Food and Drug Authority, which could expedite access to the treatment in Saudi Arabia. The company has received FDA feedback on the Statistical Analysis Plan for its confirmatory Registration Study, indicating no further response is necessary. CEL-SCI’s Board of Directors has also approved a 1-for-30 stock combination to potentially attract more investors by increasing the stock price. The company is preparing to apply for Conditional Approval of Multikine in Saudi Arabia, following positive Phase 3 study results. CEL-SCI’s manufacturing facility is capable of producing over 12,000 Multikine treatments annually, and discussions for non-dilutive funding for the Registration Study are ongoing. Multikine has shown a significant survival benefit in clinical trials, particularly in patients with low PD-L1 tumor expression.

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