CEL-SCI Corp. Posts Wider Loss In FY20 - Quick Facts

(RTTNews) - CEL-SCI Corp. (CVM) reported a net loss of $30.3 million for fiscal 2020 compared to a net loss of $22.1 million, last year. The company said the increase in net loss was predominantly due to an increase in research and development expenses by approximately $5.2 million, or 41%, and an increase in general and administrative expenses by approximately $3.7 million, or 46%, from previous year. Loss per share was $0.82 compared to a loss of $0.71.

CEL-SCI raised net proceeds of approximately $25.8 million during fiscal 2020 through the sale of common stock and the exercise of warrants and options. In December 2020, the company raised an additional $14.7 million.