CEL-SCI Corporation (AMEX:CVM) saw its stock drop 31% following the announcement of a $10 million public offering priced well below its prior closing value.
The clinical-stage cancer immunotherapy company set a best-efforts public offering of 1,111,200 common shares at $9.00 each, a 31% discount to Wednesday’s closing price of $13.04. The offering is expected to finalize on August 29, 2025, pending standard closing conditions.
CEL-SCI stated that funds raised from the offering will be used to support ongoing development of its lead Multikine immunotherapy therapy, as well as general corporate purposes and working capital.
The steep discount appears to have triggered the sharp decline in CEL-SCI shares, as the new stock issuance dilutes existing shareholders at a price significantly below recent market levels.
The company focuses on developing cancer immunotherapies, with Multikine as its primary drug candidate. This capital raise signals the company’s need for additional resources to continue advancing its clinical programs.
CEL-SCI Corporation stock price
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