CEL-SCI Shares Decline Following Equity Offering

Shares of CEL-SSCI experienced a notable decline of 4.99% in Tuesday’s trading session, closing at $11.24. The stock demonstrated significant volatility, trading within a wide range between $10.96 and $12.53—a trading band spanning 14.30%. This price movement comes in direct response to the company’s recent completion of a $10 million capital raise.

The biopharmaceutical company successfully placed 1,111,200 shares at $9.00 per share on August 29. When the pricing terms for this offering were initially disclosed on August 27, the stock reacted negatively in after-hours trading, plummeting more than 24%. Management has indicated that the net proceeds will be allocated toward advancing Multikine, supporting general corporate initiatives, and bolstering working capital.

Beyond its financing activities, CEL-SCI is actively pursuing international commercial opportunities. Chief Executive Geert Kersten highlighted several positive developments, including accelerating regulatory momentum, Read more...