BUZZ-Drug developer CEL-SCI plunges after unveiling stock offering
Reuters
Aug 28
BUZZ-Drug developer CEL-SCI plunges after unveiling stock offering
** Cancer drug developer CEL-SCI's CVM.A shares plunge 19.5% to $10.50 in extended trading
** CVM unveils proposed public offering of stock and pre-funded warrants; size not disclosed
** Proceeds from offering will be used to fund continued development of Multikine - its treatment for head and neck cancer - and other purposes
** ThinkEquity acting as sole placement agent for the offering
** CVM has 6.9 million outstanding shares for $89.7 million market cap, per LSEG data
** As of last close, CVM stock up 8.7% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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