03:41 AM EST, 12/30/2024 (MT Newswires) -- CEL-SCI Corporation ( CVM ) said late Sunday it priced a best-efforts public offering of 16.1 million shares of common stock, or pre-funded warrants in lieu of common shares, at $0.31 per share for total expected gross proceeds of $5 million.

Net proceeds will be used for product development, general corporate purposes, and working capital, the Vienna, Virginia company said.

Closing of the offering is expected to occur on Dec. 31, subject to customary closing conditions.