04:00 AM EDT, 05/22/2025 (MT Newswires) -- CEL-SCI ( CVM ) said late Wednesday it priced an offering of 2 million shares at $2.50 apiece, targeting gross proceeds of $5 million.

The company granted underwriters a 45-day option to purchase up to 190,000 additional shares to cover over-allotments.

The firm plans to use net proceeds to fund the development of its Multikine investigational therapy, for general corporate purposes, and as working capital.

The offering is due to close on Friday.

CEL-SCI's ( CVM ) shares were down 26% in after-hours activity Wednesday.