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CEL SCI CORP
CVMCIK 0000725363NYSENon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)ColoradoFY ends Sep 30
Period
FY 2025
Revenue
—
Net Income
$-25.41M
Total Assets
$28.16M
Equity
$15.96M
Shares Out
8.49M
Op. Cash Flow
$-17.12M
Business
CEL-SCI Corporation is a late clinical-stage biotechnology company dedicated to developing immunotherapies for cancer and autoimmune diseases. The company's lead candidate is Multikine, an investigational Phase 3 immunotherapy for head and neck cancer administered as a neoadjuvant (pre-surgical) treatment, and LEAPS technology platform with product candidates under development for rheumatoid arthritis. CEL-SCI has licensing and commercialization agreements for Multikine in Israel, Turkey, Serbia, Croatia, Taiwan, Singapore, Malaysia, Hong Kong, the Philippines, South Korea, Australia, New Zealand, South Africa, and Saudi Arabia, and operates a dedicated manufacturing facility in Maryland.
Summary from 10-K filed 2025-12-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Research and development | 16 | 18 | 22 | 25 | 23 | |
| General and administrative | 9 | 8 | 9 | 11 | 13 | |
| Total operating expenses | 25 | 26 | 31 | 36 | 36 | |
| Operating loss | −25 | −26 | −31 | −36 | −36 | |
| Interest expense, net | −648,944 | −745,673 | — | −1 | −1 | |
| Other expense | 47,625 | 177,682 | −42,813 | 107,148 | −8,213 | |
| Net loss | −25 | −27 | −32 | −37 | −36 | |
| Modification of warrants | 0 | −659,456 | −171,552 | −929,122 | −350,861 | |
| Net loss available to common shareholders | −25 | −28 | −32 | −38 | −37 | |
| Net loss per common share - basic and diluted | −6.27 | −15.31 | −0.73 | −0.87 | −0.9 | |
| Weighted average common shares outstanding - basic and diluted | 4 | 2 | 44 | 43 | 41 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 11 | 5 | 4 | 23 | 36 | |
| Prepaid expenses | 332,301 | 294,097 | 520,368 | 762,063 | 998,482 | |
| Supplies used for R&D and manufacturing | 303,282 | 1 | — | — | — | |
| Deposit | 7,085 | 3,500 | 4,245 | 0 | 2 | |
| Total current assets | 12 | 6 | 7 | 25 | 45 | |
| Finance lease right-of-use assets | 6 | 7 | 9 | 11 | 13 | |
| Operating lease right-of-use assets | 1 | 1 | 2 | 2 | 2 | |
| Property and equipment, net | 6 | 8 | 10 | 12 | 14 | |
| Patent costs, net | 119,856 | 165,492 | 197,704 | 212,201 | 275,866 | |
| Deposits | 2 | 2 | 2 | 0 | 2 | |
| Supplies used for R&D and manufacturing, Noncurrent | 1 | 1 | — | — | — | |
| Total assets | 28 | 27 | 31 | 51 | 76 | |
| Accounts payable | 1 | 1 | 2 | 2 | 2 | |
| Accrued expenses | 711,820 | 566,042 | 1 | 842,492 | 859,216 | |
| Due to employees | 916,588 | 363,306 | — | — | — | |
| Finance lease liabilities, current portion | 2 | 2 | 2 | 2 | — | |
| Operating lease liabilities, current portion | 166,990 | 226,969 | 197,431 | 170,928 | — | |
| Total current liabilities | 5 | 5 | 6 | 5 | 4 | |
| Finance lease liabilities, net of current portion | 6 | 8 | 10 | 12 | 13 | |
| Operating lease liabilities, net of current portion | 1 | 1 | 2 | 2 | 2 | |
| Other liabilities | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | |
| Total liabilities | 12 | 14 | 17 | 18 | 19 | |
| Preferred stock, $0.01 par value; 200,000 shares authorized; 0 shares issued and outstanding | 0 | 0 | 0 | — | — | |
| Common stock, $0.01 par value; 600,000,000 shares authorized; 5,321,341 and 2,126,237 shares issued and outstanding at June 30, 2025 and September 30, 2024, respectively | 80,157 | 21,266 | 474,223 | 434,484 | 432,072 | |
| Additional paid-in capital | 555 | 527 | 500 | 487 | 474 | |
| Accumulated deficit | −539 | −514 | −487 | −455 | −418 | |
| Total stockholders' equity | 16 | 13 | 13 | 32 | 57 | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 28 | 27 | 31 | 51 | 76 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Net loss | −25 | −27 | — | — | — | |
| Depreciation and amortization | 4 | 4 | 4 | 4 | 2 | |
| Non-cash lease expense, net of lease payments | −5,812 | 4,873 | — | — | — | |
| Share-based payments for services | 754,673 | 858,498 | 655,740 | 762,261 | 1 | |
| Equity based compensation | 2 | 4 | 6 | 11 | 14 | |
| Common stock contributed to 401(k) plan | 218,317 | 218,717 | 207,593 | 223,043 | 201,099 | |
| Shares issued for settlement of clinic development costs | 350,885 | 0 | — | — | — | |
| Loss on patent impairment | 18,275 | 0 | — | — | — | |
| Prepaid expenses | −42,550 | 72,674 | 151,935 | 167,651 | 283,964 | |
| Supplies used for R&D and manufacturing | 973,665 | −172,608 | — | — | — | |
| Deposits | −3,585 | 745 | −2 | — | — | |
| Accounts payable | −442,710 | −460,576 | 257,845 | 374,890 | 445,981 | |
| Accrued expenses | 120,728 | −458,489 | 207,089 | −16,724 | 363,701 | |
| Due to employees | 553,282 | −193,938 | — | — | — | |
| Net cash used in operating activities | −17 | −19 | −23 | −18 | −19 | |
| Purchases of property and equipment | −38,109 | −94,875 | −361,892 | −637,892 | −9 | |
| Expenditures for patent costs | 0 | −13,211 | −10,370 | −22,741 | −22,641 | |
| Net cash used in investing activities | −38,109 | −108,086 | −372,262 | 5 | −15 | |
| Proceeds from issuance of common stock and pre-funded warrants | 28 | 24 | 7 | — | — | |
| Payments of stock issuance costs | −3 | −2 | −744,913 | −169,445 | −325,034 | |
| Proceeds from the purchase of stock by officers and directors | 219,995 | 80,620 | — | — | — | |
| Payments on obligations under finance leases | −2 | −2 | −2 | −1 | −1 | |
| Proceeds from related party loans | 0 | 450,000 | 0 | — | — | |
| Payments of related party loans | 0 | −450,000 | 0 | — | — | |
| Proceeds from notes payable | 350,000 | 0 | — | — | — | |
| Payments of notes payable | −350,000 | 0 | — | — | — | |
| Net cash provided by financing activities | 23 | 20 | 5 | −638,426 | 55 | |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 6 | 592,438 | −19 | −13 | 21 | |
| Property and equipment purchases included in current liabilities | 0 | 32,954 | 51,650 | 0 | — | |
| Obligations paid with issuance of common stock | 750,328 | 759,901 | — | — | — | |
| Assets purchased under finance leases | 0 | 20,797 | 0 | — | — | |
| Finance lease obligation included in accounts payable | 1,133 | 1,320 | — | — | — | |
| Financing costs included in current liabilities | 152,735 | 38,950 | — | — | — | |
| Cash paid for interest | 768,466 | 923,807 | 1 | 1 | 1 |
Filings
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Frequently asked questions
What is CEL SCI CORP's CIK number?
CEL SCI CORP's SEC CIK number is 0000725363 (725363). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find CEL SCI CORP's SEC filings?
All of CEL SCI CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.