EXHIBIT 99.2
CEL-SCI CORPORATION NEWS
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 Corporation Prices $10 Million Public Offering
of Common Stock and Six-Month Warrants
Vienna, VA, April 14, 2014 - CEL-SCI Corporation (NYSE MKT: CVM), a late-stage
oncology company, today announced that it has priced a "best efforts"
underwritten public offering of units of common stock and warrants at a price of
$1.40 per unit for gross proceeds of approximately $10 million, prior to
deducting underwriting commissions and offering expenses of the Company. Each
unit consists of one share of common stock and 0.25 warrant to purchase one
share of common stock. The common stock and warrants will separate immediately.
The warrants are immediately exercisable, expire October 17, 2014 and have an
exercise price of $1.58. The offering is expected to close on or about April 17,
2014, subject to the satisfaction of customary closing conditions.
CEL-SCI intends to use the net proceeds of the offering for its Phase III
clinical trial, other research and development, and general and administrative
expenses.
Dawson James Securities, Inc. and Laidlaw & Company (UK) Ltd. are acting as
joint book-running managers and underwriters for the proposed offering.
A shelf registration statement and accompanying base prospectus on Form S-3
relating to the securities was filed with the Securities and Exchange Commission
and is effective. The offering may be made only by means of a prospectus, copies
of which may be obtained, when available, from the offices of Laidlaw & Company
(UK) Ltd., 546 Fifth Avenue, 5th Floor, New York, NY, 10036, telephone:
212-953-4900, or from Dawson James Securities, 1 North Federal Highway, Suite
500, Boca Raton, FL 33432, telephone: 561-391-5555.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the securities laws
of any such jurisdiction.
About CEL-SCI Corporation
CEL-SCI is dedicated to research and development directed at improving the
treatment of cancer and other diseases by utilizing the immune system, the
body's natural defense system. Its lead investigational therapy is Multikine
(Leukocyte Interleukin, Injection), currently being studied in a pivotal global
Phase III clinical trial. CEL-SCI is also investigating an immunotherapy
(LEAPS-H1N1-DC) as a possible treatment for H1N1 hospitalized patients and as a
vaccine (CEL-2000) for Rheumatoid Arthritis (currently in preclinical testing)
using its LEAPS technology platform. The investigational immunotherapy
LEAPS-H1N1-DC treatment involves non-changing regions of H1N1 Pandemic Flu,
Avian Flu (H5N1), and the Spanish Flu, as CEL-SCI scientists are very concerned
about the possible emergence of a new more virulent hybrid virus through the
combination of H1N1 and Avian Flu, or maybe Spanish Flu. The Company has
operations in Vienna, Virginia, and in/near Baltimore, Maryland.
For more information, please visit www.cel-sci.com.
* Multikine is the trademark that CEL-SCI has registered for this
investigational therapy, and this proprietary name is subject to FDA review in
connection with our future anticipated regulatory submission for approval.
Multikine has not been licensed or approvedfor sale, barter or exchangeby the
FDA or any other regulatory agency. Similarly, its safety or efficacy has not
been established for any use. Moreover, no definitive conclusions can be drawn
from the early-phase, clinical-trials data involving the investigational therapy
Multikine (Leukocyte Interleukin, Injection). Further research is required, and
early-phase clinical trial results must be confirmed in the well-controlled,
Phase III clinical trial of this investigational therapy that is currently in
progress.
Safe Harbor Statement
When used in this release, the words "intends," "believes," "anticipated" and
"expects" and similar expressions are intended to identify forward-looking
statements. Forward-looking statements include, without limitation, the
company's ability to complete the proposed public offering of its common stock
and warrants described above. Such statements are subject to risks and
uncertainties which could cause actual results to differ materially from those
projected. 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.