CEL-SCI, From Cancer to Swine Flu or H1N1 (CVM)
CEL-SCI Corp. (AMEX: CVM) actually looks to be the biggest of the emerging R&D companies today. The stock at one point today nearly doubled after CEO Geert Kersten says to a website the company’s work on a treatment for those already stricken with H1N1 may have significant impact on chances of survival.
The comments were made responding to questions from our friends over at BioMedReports.com, which reports CVM is in government talks over treatment. Unfortunately, that situation was given a decline in comment.
CVM has said before that it was working on a treatment to target non-mutating parts of the flu strain. Back in August, this company entered into a definitive agreement with several institutional investors in a registered direct offering to sell 9.7 million units of stock and warrants for gross proceeds of approximately $4.4 million.
Where this gets interesting is that CEL-SCI has historically been thought of as a call option or risky stock with a potential cancer treatment as it is entering a late stage oncology trial for a global Phase III trial in advanced primary head and neck cancer.
Shares have not just risen sharply. They have done so on exponential trading volume. In mid-afternoon trading, this one is up 75% at $1.62. It hit a new 52-week high today of $1.82. And as far as a 52-week low, that is down at $0.14.
JON C. OGG
September 15, 2009
