CEL-SCI Corporation Announces 2009 Financial Results
VIENNA, Va., Jan. 13 CEL-SCI Corporation (NYSE Amex: CVM) letters banking after-effects for the budgetary year concluded September 30, 2009.
CEL-SCI appear an operating accident for budgetary year 2009 of $ (12,100,550) against an operating accident of $ (9,517,358) in budgetary year 2008. Included in this operating accident in 2009 were non-cash expenditures that added up to about $5.5 million. In addition, CEL-SCI aswell incurred a $28.5 million non-cash accident accompanying to acquired accounting. This accident was primarily a aftereffect of the cogent access in the Company’s allotment price. CEL-SCI expects to address a abundant accretion accompanying to acquired accounting in the division catastrophe December 31, 2009.
The operating accident included analysis and development (R&D) costs of $ 6.0 million in budgetary 2009 compared to $4.1 million in budgetary 2008. R&D costs added due to college costs associated with advancing for the Company’s accessible Phase III analytic balloon of its blight biologic Multikine®.
Geert Kersten, Chief Executive Officer said, “We assured budgetary year 2009 in the arch banking action ever, with added than $33,550,000 in banknote and banknote equivalents, acceptance us to self-fund our accessible cardinal Phase III abstraction with our blight biologic Multikine. We are aflame that we are in position to move Multikine through the berth after accident rights to any of the above markets and to abide to advance our L.E.A.P.S.™ technology belvedere in areas such as H1N1 and Rheumatoid Arthritis.”
Multikine is the aboriginal immunotherapeutic abettor accepting developed as a first-line accepted of affliction analysis for cancer. It is administered above-mentioned to any added blight analysis because that is the aeon if the anti-tumor allowed acknowledgment can still be absolutely activated. Once the accommodating has beat disease, or had anaplasty or has accustomed radiation and/or chemotherapy, the allowed arrangement is acutely attenuated and is beneath able to arise an able anti-tumor allowed response. Other immunotherapies are administered afterwards the accommodating has accustomed chemotherapy and/or radiation therapy, which can absolute their effectiveness.
In Phase II analytic trials Multikine was apparent to be safe and well-tolerated, and to advance the patients’ all-embracing adaptation by 33% at a average of three and a bisected years afterward surgery. The U.S. Food and Drug Administration (FDA) gave the ambitious for a Phase III analytic balloon with Multikine in January 2007 and accepted drop biologic cachet to Multikine in the neoadjuvant analysis of squamous corpuscle blight (cancer) of the arch and close in May 2007.
About CEL-SCI Corporation
CEL-SCI Corporation is developing articles that empower allowed defenses. Its advance artefact Multikine is accepting readied for a all-around Phase III balloon in beat primary arch and close cancer. CEL-SCI is aswell developing an immunotherapy to amusement H1N1 ailing patients application its L.E.A.P.S. technology platform. This investigational analysis involves non-changing regions of H1N1 Pandemic Flu, Avian Flu (H5N1), and the Spanish Flu as CEL-SCI scientists are actual anxious about the conception of a new added baneful amalgam virus through the aggregate of H1N1 and Avian Flu, or maybe Spanish Flu. This investigational analysis is currently accepting activated in a analytic abstraction at Johns Hopkins University. The Company has operations in Vienna, Virginia, and in/near Baltimore, Maryland.
For added information, amuse appointment www.cel-sci.com .
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CEL-SCI CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS YEARS ENDED SEPTEMBER 30, 2009 and 2008 |
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2009 |
2008 |
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RENT INCOME AND OTHER |
$ 80,093 |
$ 5,065 |
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OPERATING EXPENSES: |
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Research and development (excluding |
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R&D abrasion of $329,866 and $91,292 |
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respectively, included below) |
6,011,750 |
4,101,563 |
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Depreciation and amortization |
417,205 |
215,060 |
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General & administrative |
5,671,595 |
5,200,735 |
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Total operating expenses |
12,100,550 |
9,517,358 |
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OPERATING LOSS |
(12,020,457) |
(9,512,293) |
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(LOSS)/GAIN ON DERIVATIVE INSTRUMENTS |
(28,491,650) |
1,799,393 |
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INTEREST INCOME |
- |
483,252 |
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INTEREST EXPENSE |
(397,923) |
(473,767) |
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NET LOSS |
$ (40,910,030) |
$ (7,703,415) |
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DIVIDENDS |
(490,728) |
(424,815) |
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NET LOSS AVAILABLE TO COMMON SHAREHOLDERS |
$ (41,400,758) |
$ (8,128,230) |
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NET LOSS PER COMMON SHARE |
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BASIC AND DILUTED |
$ (0.31) |
$ (0.07) |
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WEIGHTED AVERAGE COMMON SHARES |
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OUTSTANDING |
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BASIC & DILUTED |
133,535,050 |
117,060,866 |
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SOURCE CEL-SCI Corporation
RELATED LINKS
http://www.cel-sci.com