CEL-SCI Corporation (NYSE American: CVM) announced the pricing of a public offering of 6 million shares of common stock at $1.20 per share. The clinical-stage cancer immunotherapy company expects to raise approximately $7.2 million in gross proceeds before deducting placement agent fees and offering expenses.

The offering is scheduled to close on May 13, 2026, subject to customary closing conditions. ThinkEquity is serving as the sole placement agent for the transaction.

The company stated it intends to use the proceeds for continued development of Multikine, general corporate purposes, and working capital. Multikine is CEL-SCI's investigational cancer immunotherapy designed to boost patients' immune systems before surgery, radiotherapy, and chemotherapy.

A registration statement on Form S-1 relating to the shares was filed with the Securities and Exchange Commission and became effective on May 11, 2026. The offering is being conducted on a best-efforts basis.

CEL-SCI has dosed Multikine in over 740 patients and received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma of the head and neck. The therapy has not been licensed or approved for sale by the FDA or other regulatory agencies.

The Vienna, Virginia-based company also maintains operations near Baltimore, Maryland. Information about the offering comes from a company press release.