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CEL-SCI Corporation Reports 2009 Second Fiscal Quarter Financial Results
Date:5/15/2009

VIENNA, Va., May 15 /PRNewswire-FirstCall/ -- CEL-SCI Corporation (NYSE AMEX: CVM) announced today financial results for its second fiscal quarter for the period ended March 31, 2009.

Financial results:

  • Net loss for three months ended March 31, 2009 was $1,894,753, a decline of 41% compared to a net loss of $3,210,294 during the same quarter in 2008.
  • The net loss per common share for the quarter ended March 31, 2009 was $0.02 compared to $0.03 for the same quarter in 2008.
  • During the six-month period ended March 31, 2009 the Company used cash in operations totaling $57,092 while during the six-month period ended March 31, 2008 it used $10,728,203. For the six months ended March 31, 2009 and 2008, cash provided by financing activities totaled $1,218,734 and $180,443, respectively.

Some of the recent highlights include:

  • Licensing Agreement for Multikine. The Company entered into an agreement with Byron Biopharma ("Byron") under which CEL-SCI has granted Byron an exclusive license to market and distribute the Company's cancer drug Multikine(R) in the Republic of South Africa. Byron will also be responsible for registering the product in the country. CEL-SCI already has existing licensing agreements for Multikine with Teva Pharmaceuticals and Orient Europharma.
  • Launch of cold 4 degrees Celsius Aseptic Filling manufacturing process. The Company launched a new manufacturing process that could allow drugs developed using stem cells and other biological products to maintain their potency and thereby potentially also their shelf life. The availability of this new process developed by CEL-SCI may also significantly accelerate the time to market by eliminating complicated and tim
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SOURCE CEL-SCI Corporation
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