CVM Stock Sinks In Pre-Market Trading After Announcing Second Equity Raise For Its Cancer Drug In Just Over A Month

• The biotech firm said it intends to use the gross proceeds for the development of its Multikine cancer drug, which has an Orphan Drug Designation in the U.S.
• This comes after Cel-Sci announced an offering of 6 million shares at $1.2 last month.
• Cel-Sci recently partnered with Amarox for the regulatory approval, commercialization, and distribution of Multikine in Saudi Arabia.

Shares of Cel-Sci Corp. (CVM) slumped more than 7% in pre-market trading on Monday, with the stock tracking its fifth straight session of decline, after the biotech firm announced a second share offering just over a month.

CVM Set To Raise Nearly $10M In A Month

Cel-Sci priced a best-efforts public offering of 2.5 million shares of common stock at $1 per share, aiming to raise gross proceeds of roughly $2.5 million. The clinical-stage immunotherapy company said the offering is expected to close on June 16. The offer price is a 7.4% discount to the stock’s closing price on Friday.

The latest fundraising follows a larger offering announced in May, when Cel-Sci priced 6 million shares at $1.20 per share, generating expected gross proceeds of about $7.2 million.

The company plans to use the proceeds from both stock offerings to advance the development of Multikine, its lead cancer immunotherapy candidate, and for general corporate and working capital needs.

What Is Multikine?

Multikine is an injectable immunotherapy for patients with newly diagnosed head and neck cancer. Cel-Sci said Phase 3 trial results showed the treatment increased the five-year survival rate to 73% from 45% and reduced the risk of death to 27% from 55%, compared with standard treatment alone.

The therapy has been given to more than 740 patients and has received Orphan Drug Designation from the FDA.

Cel-Sci recently partnered with Amarox to obtain regulatory approval, commercialize, and distribute Multikine in Saudi Arabia. The agreement could later expand to other Gulf countries, including the UAE, Qatar, Kuwait, Bahrain, and Oman.

What Do Traders Think Of CVM?

Retail sentiment for CVM on Stocktwits trended in the ‘neutral’ territory over the past 24 hours.

One user called the capital raise “really strange.”

The stock has been under heavy selling pressure so far in 2026, tanking more than 77%.

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