Attached files
EXHIBIT 99
8229 Boone Boulevard,
Suite 802 COMPANY CONTACT:
Vienna, VA 22182. USA Gavin de Windt
Telephone (703) 506-9460 CEL-SCI Corporation
www.cel-sci.com (703) 506-9460
CEL-SCI Announces That the NYSE MKT Approves Plan
VIENNA, VA, February 27, 2017 - CEL-SCI Corporation (NYSE MKT: CVM) announces
that the NYSE MKT (the "Exchange") has accepted the Company's plan to bring
itself into compliance with the Exchange's continued listing standards.
The Company previously received notice from the Exchange on December 9, 2016,
indicating the Company is below compliance with Section 1003(a)(i), Section
1003(a)(ii) and Section 1003(a)(iii) since it reported a stockholders' equity
deficit as of June 30, 2016 and had a net losses in its 5 most recent fiscal
years ended September 30, 2015. The Company was afforded the opportunity to
submit a plan to regain compliance, and on January 9, 2017 the Company submitted
its plan to the Exchange.
On February 24, 2017 the Exchange notified the Company that it accepted the
Company's plan of compliance and granted the Company until June 11, 2018 to
regain compliance with the continued listing standards. The Company will be
subject to periodic review during this period. Failure to make progress
consistent with the plan or to regain compliance with the continued listing
standards by the end of the period could result in the Company being delisted
from the NYSE MKT. The Company may then appeal a staff determination to initiate
such proceedings in accordance with the exchange's Company Guide.
About CEL-SCI Corporation
CEL-SCI's work is focused on finding the best way to activate the immune system
to fight cancer and infectious diseases. The Company has operations in Vienna,
Virginia, and in/near Baltimore, Maryland.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. When used in this press release,
the words "intends," "believes," "anticipated," "plans" and "expects," and
similar expressions, are intended to identify forward-looking statements. Such
statements are subject to risks and uncertainties that could cause actual
results to differ materially from those projected. Such statements include, but
are not limited to, statements about the terms, expected proceeds, use of
proceeds and closing of the offering. Factors that could cause or contribute to
such differences include, an inability to duplicate the clinical results
demonstrated in clinical studies, timely development of any potential products
that can be shown to be safe and effective, receiving necessary regulatory
approvals, difficulties in manufacturing any of the Company's potential
products, inability to raise the necessary capital and the risk factors set
forth from time to time in CEL-SCI's filings with the Securities and Exchange
Commission, including but not limited to its report on Form 10-K and 10-K/A for
the year ended September 30, 2016. The Company undertakes no obligation to
publicly release the result of any revision to these forward-looking statements
which may be made to reflect the events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.