Aug. 17 at 2:51 PM
$CVM
Strip away the recycled language and look at the timeline and cash.
CEL-SCI had only
$6.53M in cash on June 30 and burned
$4.0M during the quarterāapproximately
$1.33M per month.
At that pace, the June cash balance lasts less than five months. As of today, cash could already be down near
$4.4M, leaving roughly three months of runway. That is before any meaningful increase in spending for the
$30ā35M confirmatory trial.
Meanwhile, the original Phase 3 data was unblinded in June 2021āmore than five years agoāand the new confirmatory trial still hasnāt begun enrollment. Todayās language is once again āset to commence.ā
The Saudi Arabia story is also now more than a year old:
ā¢ July 2025: MOU with Dallah
ā¢ August 2025: Breakthrough application submitted
ā¢ Q3 2025: Final Dallah agreement supposedly expected
ā¢ May 2026: A new partnership announced with Amarox
ā¢ August 2026: Still no designation, approval, reimbursement or sales
Todayās release simply repeats that Saudi approval ācouldā make Multikine available in the near term.
Five years since the trial data. More than a year of Saudi headlines. Still no new trial enrollment, no Saudi approvalāand only a few months of cash remaining.
Something has to happen very soon. Unless Saudi Arabia or another partner delivers substantial upfront cash, another financing looks unavoidable.
Btw the trial failed
https://www.fiercebiotech.com/biotech/cel-sci-cancer-phase-3-misses-primary-endpoint-sinking-stock
