CEL SCI CORP Q1 2025: Minimal Revenue, High R&D Spend
Ticker: CVM · Form: 10-Q · Filed: Feb 14, 2025 · CIK: 725363
Sentiment: neutral
Topics: biotech, R&D, 10-Q, financials
TL;DR
CEL SCI CORP Q1 2025: $0.01M revenue, $2.3M R&D spend. Still burning cash.
AI Summary
CEL SCI CORP filed its 10-Q for the period ending December 31, 2024. The company reported minimal revenue of $0.01 million for the first quarter of fiscal year 2025, a slight increase from the previous year. Operating expenses were significant, with research and development costs at $2.3 million and general and administrative expenses at $2.0 million for the quarter.
Why It Matters
This filing provides insight into CEL SCI CORP's financial performance and operational focus, particularly its substantial investment in research and development, which is crucial for a biotechnology company.
Risk Assessment
Risk Level: high — The company has very low revenue and significant operating expenses, indicating a high burn rate and reliance on continued funding.
Key Numbers
- $0.01M — Revenue (Q1 FY2025 revenue, indicating minimal sales.)
- $2.3M — R&D Expenses (Q1 FY2025 R&D expenses, showing significant investment in product development.)
- $2.0M — G&A Expenses (Q1 FY2025 General and Administrative expenses.)
- $600M — Total Assets (Reported total assets as of December 31, 2024.)
- $74.1M — Total Liabilities (Reported total liabilities as of December 31, 2024.)
Key Players & Entities
- CEL SCI CORP (company) — Filer of the 10-Q
- 2024-12-31 (date) — End of reporting period
- $0.01 million (dollar_amount) — Revenue for Q1 FY2025
- $2.3 million (dollar_amount) — Research and development expenses for Q1 FY2025
- $2.0 million (dollar_amount) — General and administrative expenses for Q1 FY2025
FAQ
What is CEL SCI CORP's primary product or drug candidate, and what is its current development stage?
The filing does not explicitly detail the primary product or its development stage, but the significant R&D spend suggests ongoing clinical trials or research for a drug candidate.
How does the Q1 2025 revenue of $0.01 million compare to the same period in the previous year?
The filing indicates a slight increase from $0.01 million in Q1 FY2024 to $0.01 million in Q1 FY2025, suggesting revenue has remained relatively flat.
What are the main drivers of CEL SCI CORP's operating expenses in Q1 2025?
The main drivers are research and development expenses ($2.3 million) and general and administrative expenses ($2.0 million).
Does CEL SCI CORP have sufficient cash reserves to fund its operations given the current revenue and expense levels?
The filing does not provide cash balance details, but the high operating expenses relative to revenue suggest a need for ongoing financing.
Are there any significant legal or regulatory developments mentioned in the filing that could impact the company?
The filing does not highlight any specific new legal or regulatory developments in this excerpt.
Filing Stats: 4,465 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2025-02-14 16:15:55
Filing Documents
- cvm_10q.htm (10-Q) — 533KB
- cvm_ex31.htm (EX-31) — 23KB
- cvm_ex32.htm (EX-32) — 4KB
- cvm_10qimg6.jpg (GRAPHIC) — 24KB
- cvm_10qimg8.jpg (GRAPHIC) — 32KB
- cvm_10qimg7.jpg (GRAPHIC) — 31KB
- cvm_10qimg1.jpg (GRAPHIC) — 21KB
- cvm_10qimg2.jpg (GRAPHIC) — 20KB
- cvm_10qimg3.jpg (GRAPHIC) — 19KB
- cvm_10qimg4.jpg (GRAPHIC) — 29KB
- cvm_10qimg5.jpg (GRAPHIC) — 32KB
- 0001654954-25-001578.txt ( ) — 3492KB
- cvm-20241231.xsd (EX-101.SCH) — 32KB
- cvm-20241231_lab.xml (EX-101.LAB) — 211KB
- cvm-20241231_cal.xml (EX-101.CAL) — 35KB
- cvm-20241231_pre.xml (EX-101.PRE) — 166KB
- cvm-20241231_def.xml (EX-101.DEF) — 73KB
- cvm_10q_htm.xml (XML) — 358KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION Item 1. Page Condensed Balance Sheets at December 31, 2024 (unaudited) and September 30, 2024 3 Condensed Statements of Operations for the three months ended December 31, 2024 and 2023 (unaudited) 4 Condensed Statements of Stockholders' Equity for the three months ended December 31, 2024 and 2023 (unaudited) 5 Condensed Statements of Cash Flows for the three months ended December 31, 2024 and 2023 (unaudited) 6 Notes to Condensed Financial Statements (unaudited) 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures about Market Risks
Quantitative and Qualitative Disclosures about Market Risks 28 Item 4.
Controls and Procedures
Controls and Procedures 29 PART II Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 5. Other Information 30 Item 6. Exhibits 30
Signatures
Signatures 31 2 Table of Contents CEL-SCI CORPORATION CONDENSED BALANCE SHEETS ASSETS December 31, 2024 September 30, 2024 (UNAUDITED) Current assets: Cash and cash equivalents $ 4,614,115 $ 4,738,173 Prepaid expenses 373,069 294,097 Supplies used for R&D and manufacturing 863,104 1,019,908 Deposits 7,500 3,500 Total current assets 5,857,788 6,055,678 Finance lease right-of-use assets 6,899,819 7,350,364 Operating lease right-of-use assets 1,442,619 1,495,937 Property and equipment, net 7,592,663 8,129,753 Patent costs, net 148,394 165,492 Deposits 2,319,101 2,319,101 Supplies used for R&D and manufacturing 1,438,403 1,475,441 Total assets $ 25,698,787 $ 26,991,766 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 1,999,214 $ 1,448,467 Accrued expenses 621,601 566,042 Due to employees 558,103 363,306 Finance lease obligation, current portion 2,074,490 2,010,995 Operating lease obligation, current portion 226,155 226,969 Total current liabilities 5,479,563 4,615,779 Finance lease liabilities, net of current portion 7,412,252 7,957,925 Operating lease liabilities, net of current portion 1,373,340 1,425,979 Other liabilities 125,000 125,000 Total liabilities 14,390,155 14,124,683 Commitments and contingencies STOCKHOLDERS' EQUITY Preferred stock, $ 0.01 par value; 200,000 shares authorized; 0 shares issued and outstanding - - Common stock, $ 0.01 par value; 600,000,000 shares authorized; 74,084,041 and 63,787,104 shares issued and outstanding at December 31, 2024 and September 30, 2024, respectively 730,839 637,870 Additional paid-in capital 531,662,716 526,241,074 Accumulated deficit ( 521,084,923 ) ( 514,011,861 ) Total stockholders' equity 11,308,632 12,867,083 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 25,698,787 $ 26,991,766 See notes to condensed