Navigation Links
CEL-SCI Corporation Reports First Quarter Financial Results
Date:2/14/2008

VIENNA, Va., Feb. 14 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION (Amex: CVM) reports financial results for the first quarter fiscal year 2008, ending December 31, 2007.

Highlights:

-- Net loss for the three months ending December 31, 2007 was

approximately $1.84 million compared with an operating loss of

approximately $1.1 million during the quarter ending December 31,

2006.

-- The net loss per common share was at $0.02 during the quarter ending

December 31, 2007 compared with the net loss per common share of $0.01

for the quarter ending December 31, 2006.

-- During the three-month period ended December 31, 2007, research and

development expenses doubled compared to the three-month period ended

December 31, 2006. This is due to the increase in work for preparation

of the Phase III clinical study.

About CEL-SCI's Phase III Cancer Drug Multikine:

In Phase II clinical trials Multikine was shown to be safe and well-tolerated, and to improve the patients' overall survival by 33% at a median of three and a half years following surgery. The U.S. Food and Drug Administration (FDA) gave the go-ahead for a Phase III clinical trial with Multikine in January 2007 and granted orphan drug status to Multikine in the neoadjuvant therapy of squamous cell carcinoma (cancer) of the head and neck in May 2007. CEL-SCI is currently building a manufacturing facility for Multikine close to Baltimore, MD. Upon completion of the facility in the 3rd quarter of 2008, CEL-SCI will commence the Phase III clinical trial. Multikine appears to be the first non-toxic cancer drug.

Multikine, a patented defined mixture of naturally derived cytokines, is the first immunotherapeutic agent in a new class of drugs called "Immune SIMULATORS". Immune SIMULATORS simulate the way our natural immune system acts in defending us against cancer. As opposed to other immunotherapies which are designed to target a single or limited number of specific antigens or molecules, Immune SIMULATORS are multi-targeted; they simultaneously cause a direct and targeted killing of the specific tumor cells and they activate the immune system to produce a stronger anti-tumor attack on multiple fronts.

Multikine is also the first immunotherapeutic agent being developed as a first-line standard of care treatment for cancer. It is administered prior to any other cancer therapy because that is the period when the anti-tumor immune response can still be fully activated. Once the patient has advanced disease, or had surgery or has received radiation and/or chemotherapy, the immune system is severely weakened and is less able to mount an effective anti-tumor immune response. Other immunotherapies are administered after the patient has received chemotherapy and/or radiation therapy, which can limit their effectiveness.

The Company has operations in Vienna, Virginia and Baltimore, Maryland. CEL-SCI's other products, which are currently in pre-clinical stage, have shown protection against a number of diseases in animal tests and are being tested against diseases associated with bio-defense.

CEL-SCI CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

Three Months Ended

December 31,

2007 2006

REVENUE:

Grant revenue $ - $ 13,862

Rent income 1,530 6,090

Other income - 841

Total Revenue 1,530 20,793

EXPENSES:

Research and development, excluding

depreciation of $30,463 and

$20,493 included below 1,028,966 506,158

Depreciation and amortization 54,253 41,842

General and administrative 1,785,749 1,052,704

Total Expenses 2,868,968 1,600,704

LOSS FROM OPERATIONS (2,867,438) (1,579,911)

GAIN (LOSS) ON DERIVATIVE INSTRUMENTS 989,988 719,247

INTEREST INCOME 178,731 95,551

INTEREST EXPENSE (144,016) (347,246)

NET LOSS BEFORE INCOME TAXES (1,842,735) (1,112,359)

INCOME TAX PROVISION - -

NET LOSS (1,842,735) (1,112,359)

DIVIDENDS (424,815) -

NET LOSS $ (2,267,550) $(1,112,359)

NET LOSS PER COMMON SHARE (BASIC) $ (0.02) $ (0.01)

NET LOSS PER COMMON SHARE (DILUTED) $ (0.02) $ (0.01)

WEIGHTED AVERAGE COMMON SHARES

OUTSTANDING, BASIC & DILUTED 115,708,186 82,928,432


'/>"/>
SOURCE CEL-SCI Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine technology :

1. CEL-SCI Corporation Announces 2007 Financial Results
2. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on CEL-SCI Corporation
3. CEL-SCI to Present at Rodman & Renshaw 9th Annual Healthcare Conference
4. CEL-SCI CEO to Present at the International Society for Pharmaceutical Engineering 2007 Chesapeake BioShowcase
5. CEL-SCI Presents Data for CEL-1000 as a Vaccine Adjuvant with Recombinant Hepatitis B Virus Protein
6. CEL-SCI CEO to Present Tomorrow at the Biotech / Pharma / Healthcare On-Line Forum
7. CEL-SCI Corporation Releases Letter to Shareholders
8. CEL-SCI Secures Manufacturing Facility for Multikine Cancer Drug
9. NanoBio Corporation Presents Preclinical and Interim Clinical Data on Topical Treatments for Herpes Labialis and Onychomycosis at AAD 2008
10. Genaera Corporation Presents Promising Preclinical Type 2 Diabetes Data for Trodusquemine (MSI-1436) at Keystone Symposia
11. Divine Corporations Personal Lubricants Shown to Block Cancer-causing Viruses in a Study by the National Cancer Institute
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... May 25, 2016 Digital Health Dialog, ... it by the US Patent and Trademark Office ... includes proprietary processes for electronic opt-­in and processing ... wellness programs, HIPAA compliance and otherwise. ... "Our technology allows for individuals ...
(Date:5/24/2016)... , May 24, 2016 ... den Markt gebracht, die es Ärzten erlaubt, ihre ... zu behandeln: MDLinking kombiniert Live Streaming mit einer ... Umfeld zu kommunizieren. Mediziner in Europa, Afrika, Asien ... sich bereits für die Plattform registriert. ...
(Date:5/24/2016)... , May 24, 2016  Diana Russell suffers ... her organs from the inside out.  This disease has ... dependent on her children and grandchildren to leave her ... wheelchair, Diana,s family cannot haul the wheelchair.  So if ... the car, and Diana is left to wait for ...
Breaking Medicine Technology:
(Date:5/26/2016)... ... May 26, 2016 , ... Eugene Batelli, ... Along with his wonderful accolades and stellar patient reviews, Dr. Batelli continues to ... , Dr. Eugene Batelli is a highly trained Podiatric Surgeon who specializes in ...
(Date:5/26/2016)... Pass, OR (PRWEB) , ... May 26, 2016 , ... ... of Bio-Logic Aqua® Research Water Life Science® and international water advocate, was honored by ... of the women in ancient Egypt who knelt on the banks of the Nile ...
(Date:5/26/2016)... Columbus, Ohio (PRWEB) , ... May 26, 2016 ... ... thought leader Mike Morrow-Fox . With over 20 years of experience in ... organizations, as well as several years of university teaching, Morrow-Fox will be featured ...
(Date:5/26/2016)... CT; Scottsdale, AZ (PRWEB) , ... ... ... insights consultancy, Actûrus , is happy to announce the launch of ... thinking of the funnel model to reflect the dynamic landscape of modern ...
(Date:5/26/2016)... ... May 26, 2016 , ... In Madeira Beach Florida, a small town ... drawbridge, citizens formed an organization, Madeira Beach United, to oppose two development projects undertaken ... town center to a high rise urban environment. , According to the Tampa ...
Breaking Medicine News(10 mins):