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CEL-SCI raises over $3.7M; ability to continue still in doubt

CEL-SCI Corp. raised over $3.7 million in a public offering, though concerns over its ability to continue business remain.

The company warned in its Form 10-K filed last week that recurring losses from operations and future liquidity needs raised "substantial doubt" about its ability to continue as a going concern unless it attracts additional capital.

However, despite the public offering, the company said it would not retract its previous statement.

CEL-SCI's lead cancer treatment, Multikine, is being studied in a phase 3 clinical trial involving patients with head and neck cancer.