04:25 PM EST, 12/31/2024 (MT Newswires) -- CEL-SCI ( CVM ) late Tuesday said it has closed on its best-efforts offering of more than 16.1 million common shares and prefunded warrants at $0.31 per share, generating $5 million in gross proceeds.

The cancer immunotherapy company plans to use the net proceeds to continue development of its Multikine injections, as well as working capital and other general corporate purposes.