CEL-SCI
Develops a pre-surgical cytokine treatment for selected head-and-neck cancer patients.
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Profile
Develops Multikine, a pre-surgical cytokine treatment for selected head-and-neck cancer patients, and retains a preclinical LEAPS platform. With no approved products or product revenue, operations are concentrated on a confirmatory study, specialized biologic manufacturing and external financing.
Develops Multikine, a locally administered mixture of naturally derived human cytokines intended as a pre-surgical treatment for selected patients with newly diagnosed head-and-neck squamous cell carcinoma. It is designed to add to, rather than replace, surgery and postoperative radiation or chemoradiation. LEAPS, an antigen-presentation platform, remains preclinical and is not the present research-and-development focus.
Operates as a research-and-development business with no approved products or product revenue. Controls Multikine development and biologic manufacturing at a dedicated Maryland facility, while using clinical and regulatory contractors and maintaining prospective territory agreements that depend on future approvals.
Depends on a confirmatory late-stage study for patients with low or absent PD-L1 expression and no clinical lymph-node involvement at entry, after the prior full-population study missed its overall-survival endpoint. Commercial deployment would also require regulatory approval, an FDA-authorized companion diagnostic, manufacturing validation, and financing.
Company facts
Key statistics
Year to date −69.7% · Average volume (30d) 203.4K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 14, 2026Q3 FY26 | — | −$0.47 | — | — | — | — | +3.36% |
| May 18, 2026Q2 FY26 | — | −$0.67 | — | — | — | — | −7.56% |
| Feb 17, 2026Q1 FY26 | — | −$0.68 | — | — | — | — | +8.37% |
| Jan 12, 2026Q1 FY26 | — | −$2.70 | — | — | — | — | −0.97% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | −$4.0M | −$959.0K | −$960.9K | −$3.7M | −$956.4K | −$946.4K | |
| Operating income | −$6.4M | −$5.5M | −$6.0M | −$5.4M | −$5.3M | −$5.6M | |
| Net income | −$6.6M | −$5.7M | −$6.1M | −$5.5M | −$5.5M | −$5.7M | |
| Diluted EPS | −$2.33 | −$1.36 | −$0.76 | −$0.68 | −$0.67 | −$0.47 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY24 $6.0M · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $6.5M · Total debt $7.9M · Total assets $21.4M · Shareholders' equity $11.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 6.87M · Float 6.31M · 91.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Lincoln Alternative Strategies LLC | 555.0K | 6.94% | 13G | Aug 29, 2025 |
| Geert R. Kersten · director, officer: Chief Executive Officer | 316.1K | 4.60% | Form 4 | Aug 26, 2026 |
| Vanguard Capital Management LLC | 243.6K | 3.55% | 13F | May 15, 2026 |
| Mai Capital Management | 91.3K | 1.33% | 13F | May 15, 2026 |
| Geode Capital Management, LLC | 85.3K | 1.24% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Geert R. Kersten | director, officer: Chief Executive Officer | +100,000 | $1.38 |
Peers
- Merck
Approved perioperative PD-1 regimen in resectable HNSCC.
- Eli Lilly
Established locoregional HNSCC regimen with radiation.
- Bristol-Myers Squibb
Approved PD-1 therapy in recurrent or metastatic HNSCC.
- PDS Biotechnology
Late-stage HNSCC immunotherapy program targeting HPV16 disease.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CEL-SCI | $1.63 | +4.17% | $10.7M | — | — | — | — |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| PDS Biotechnology | $0.2136 | +2.05% | $11.8M | — | — | — | — |
| Median | 39.4 | 17.2 | 5.5 | +5.7% |






