Attached files
file | filename |
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8-K - CURRENT REPORT - CEL SCI CORP | cvm_8k.htm |
Exhibit 99
|
NEWS
RELEASE
|
8229
Boone Boulevard, Suite 802
Vienna,
VA 22182. USA
Telephone
(703) 506-9460
www.cel-sci.com
|
COMPANY
CONTACT:
Gavin
de Windt
CEL-SCI
Corporation
(703)
506-9460
|
CEL-SCI ANNOUNCES THAT THE NYSE AMERICAN APPROVES PLAN
Vienna, VA, August 17, 2018 - CEL-SCI Corporation
(NYSE American: CVM)
announces that the NYSE American (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 July 12,
2018, 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, 2018
and had net losses in its 5 most recent fiscal years ended
September 30, 2017. Additional information and provisions regarding
the NYSE American requirements are found in Part 10 of its Company
Guide. The Company was afforded the opportunity to submit a plan to
regain compliance, and on July 30, 2018 the Company submitted its
plan to the Exchange.
On
August 16, 2018 the Exchange notified the Company that it accepted
the Company's plan of compliance and granted the Company until
January 14, 2019 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 American. The Company may then appeal a staff
determination to initiate such proceedings in accordance with the
exchange's Company Guide.
“We
are very pleased that the NYSE American has accepted our compliance
plan. Continued listing on the NYSE American is highly beneficial
to CEL-SCI and its shareholders and we look forward to regaining
full compliance,” stated CEL-SCI CEO Geert
Kersten.
About CEL-SCI Corporation
CEL-SCI
believes that boosting a patient's immune system while it is still
intact should provide the greatest possible impact on survival.
Therefore, in the Phase 3 study CEL-SCI treats patients who are
newly diagnosed with advanced primary squamous cell carcinoma of
the head and neck with Multikine first, BEFORE they receive
surgery, radiation and/or chemotherapy. This approach is unique.
Most other cancer immunotherapies are administered only after
conventional therapies have been tried and/or failed. Multikine
(Leukocyte Interleukin, Injection), has received Orphan Drug
designation from the FDA for the neoadjuvant therapy in patients
with squamous cell carcinoma (cancer) of the head and
neck.
CEL-SCI's
Phase 3 study is the largest Phase 3 study in the world for the
treatment of head and neck cancer. Per the study's protocol, newly
diagnosed patients with advanced primary squamous cell carcinoma
are treated with the Multikine treatment regimen for 3 weeks prior
to the Standard of Care (SOC) which involves surgery, chemotherapy
and/or radiation. Multikine is designed to help the immune system
"see" the tumor at a time when the immune system is still
relatively intact and thereby better able to mount an attack on the
tumor. The aim of treatment with Multikine is to boost the body's
immune system prior to SOC.
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The
Company's LEAPS technology is currently being developed as a
therapeutic vaccine for rheumatoid arthritis and is supported by
grants from the National Institutes of Health. 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 for the year
ended September 30, 2017. 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.
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