CVM on NYSE

Cel-Sci (United States)

Logo: cel-sci.com3

Cel-Sci (United States) is a late clinical-stage biotechnology company.1 It was founded in 1983.1 It is headquartered in Vienna.1 Its shares trade on NYSE under the symbol CVM.1

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Last updated Oct 20, 2026.

Overview

-$25.4MNet income, fiscal 20254
Jan 1, 1983Founded1

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  • TickerCVM on NYSE1
  • IndustryBiological Products, (No Diagnostic Substances)1
  • HeadquartersVienna1
  • Websitewww.cel-sci.com
  • Incorporated inCO5
  • Business address8229 Boone Blvd ., Suite 802, Vienna, Va 221825
  • Filer categoryNon-accelerated filer, Smaller reporting company5

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CEL-SCI Corporation is a late clinical-stage biotechnology company dedicated to research and development directed at improving the treatment of cancer and other diseases by using the immune system, the body’s natural defense system. CEL-SCI is currently focused on the development of the following product candidates and technologies with an emphasis on Multikine:6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-159.2%Return on equity4
-$17.2MFree cash flow4

Financial statements

Operating income7891011124-$24.8M in 2025+48% since 2018
-$40.0M-$30.0M-$20.0M-$10.0M02018: -$16.8M-$16.8M20182019: -$20.2M-$20.2M2019+20%2020: -$29.0M-$29.0M2020+44%2021: -$36.2M-$36.2M2021+25%2022: -$36.1M-$36.1M2022−0%2023: -$31.5M-$31.5M2023−13%2024: -$26.4M-$26.4M2024−16%2025: -$24.8M-$24.8M2025−6%
Net income7891011124-$25.4M in 2025−20% since 2018
-$40.0M-$30.0M-$20.0M-$10.0M02018: -$31.8M-$31.8M20182019: -$22.1M-$22.1M2019−30%2020: -$30.3M-$30.3M2020+37%2021: -$36.4M-$36.4M2021+20%2022: -$36.7M-$36.7M2022+1%2023: -$32.4M-$32.4M2023−12%2024: -$26.9M-$26.9M2024−17%2025: -$25.4M-$25.4M2025−6%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-09-302024-09-30
Research and development$15.9M$18.2M
General and administrative$8.9M$8.2M
Total operating expenses$24.8M$26.4M
Operating loss-$24.8M-$26.4M
Interest expense, net-$648.9K-$745.7K
Other expense$47.6K$177.7K
Net loss-$25.4M-$26.9M
Modification of warrants$0-$659.5K
Net loss available to common shareholders-$25.4M-$27.6M
Net loss per common share - basic and diluted-$6.27-$15.31
Weighted average common shares outstanding - basic and diluted4.1M shares1.8M shares

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Corporate structure

Cel-Sci (United States) sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Cel-Sci (United States)

  • Lincoln Alternative Strategies LLC Filed SCHEDULE 13G on Cel-Sci (United States), latest Aug 29, 2025
  • State Street Corporation Filed SC 13G/A on Cel-Sci (United States), latest Feb 8, 2023 (4 filings since Oct 12, 2021)
  • Cel-Sci (United States) Vienna

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Cel-Sci (United States) reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Furniture and fixtures$104.6K4 Sep 30, 2025$104.6K4 Sep 30, 20240%
Leasehold improvements$13.9M4 Sep 30, 2025$13.9M4 Sep 30, 20240%
Property and equipment, before depreciation$18.1M4 Sep 30, 2025$18.2M4 Sep 30, 2024−0.3%
Accumulated depreciation$12.1M4 Sep 30, 2025$10.1M4 Sep 30, 2024+19.8%
Property and equipment, net$6.1M4 Sep 30, 2025$8.1M4 Sep 30, 2024−25.2%
Finance-lease assets$5.5M4 Sep 30, 2025$7.4M4 Sep 30, 2024−24.5%
Operating-lease assets (leased space)$1.3M4 Sep 30, 2025$1.5M4 Sep 30, 2024−14.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, net$119.9K4 Sep 30, 2025$165.5K4 Sep 30, 2024−27.6%
Patents, net$643.0K4 Sep 30, 2025$829.7K4 Sep 30, 2024−22.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.0M12 Sep 30, 2024$2.2M12 Sep 30, 2023−54.6%

Properties, in its own words

CEL-SCI leases approximately 3,700 square feet of office space at 8229 Boone Blvd., Suite 802, Vienna, Virginia at a monthly rental of approximately $8,000. In October 2025, the lease on the office space was extended and expires on May 31, 2031. CEL-SCI believes this arrangement is adequate for the conduct of its present business.

CEL-SCI has a 17,900 square foot laboratory located in Baltimore, Maryland. The laboratory is leased by CEL-SCI at a cost of approximately $22,000 per month. The laboratory lease expires on February 29, 2032.

The rest of Item 2

In August 2007, CEL-SCI leased a building near Baltimore, Maryland (the San Tomas lease). The building, which consists of approximately 73,000 square feet, has been remodeled in accordance with CEL-SCI’s specifications so that it can be used by CEL-SCI to manufacture Multikine for CEL-SCI’s Phase III clinical trial and sales of the drug, if approved by the FDA. The lease expires on October 31, 2028 and required annual base rent payments of approximately $2.7 million during the twelve months ended September 30, 2025. The annual base rent escalates each year at 3% beginning on November 1st. CEL-SCI is also required to pay all real estate and personal property taxes, insurance premiums, maintenance expenses, repair costs and utilities, which were approximately $86,000 per month as of September 30, 2025. The lease allows CEL-SCI, at its election, to extend the lease for two ten-year periods or to purchase the building at the end of the 20-year lease.

In August 2020, the Company entered into an amendment to the San Tomas lease agreement under which the landlord agreed to allow the Company to substantially upgrade the manufacturing facility in preparation for the potential commercial production of Multikine. The total cost of the upgrades was $11.1 million. The landlord agreed to finance the final $2.4 million of the costs incurred. The Company started repaying these costs on March 1, 2021 through increased lease payments which will continue over the remaining lease term. The repayment includes a base rent which escalates at 3% each year plus interest that accrues at 13.75% per year on the $2.4 million financed.

Item 2 of the 10-K filed Dec 29, 2025.6

Leadership

Who has led Cel-Sci (United States), and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Geert R. Kersten2006–now

President

  1. Clara Maximilian De2006–2015

Chief financial officer

  1. Patricia B. Prichep2025–now
1990200020102020
Board members and other officers (14)

Timeline

  1. Aug 17, 20268-K Shareholder vote30
  2. Jun 16, 20268-K Entered a material agreement; Other events31
  3. May 14, 20268-K Entered a material agreement32
  4. May 13, 20268-K Entered a material agreement; Other events33
  5. Nov 24, 20258-K Change to shareholders' rights34
  6. Nov 5, 20258-K Change to shareholders' rights35
  7. Aug 29, 20258-K Entered a material agreement; Other events36
  8. Aug 25, 20258-K Other events37
  9. Jul 14, 20258-K Entered a material agreement; Other events38
  10. May 23, 20258-K Entered a material agreement; Other events39
  11. May 19, 20258-K Shareholder vote40
  12. Mar 18, 20258-K Entered a material agreement; Other events41
  13. Jan 4, 2006New chief executive Geert R. Kersten becomes CEO15
  14. Dec 1983Went public Listed on NASDAQ1
  15. Jan 1, 1983Founded Founded1

Filings

265 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 39 major events, 119 insider forms, 7 large holders, 80 other. The latest 20:

  1. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  3. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 3, 2026S-8 EDGAR
  5. Aug 26, 20264 PRIMARY DOCUMENT EDGAR
  6. Aug 17, 20268-K EDGAR
  7. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  9. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  10. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  12. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 14, 202610-Q EDGAR
  14. Jul 2, 2026ARS EDGAR
  15. Jul 2, 2026DEF 14A EDGAR
  16. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  17. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  18. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 16, 20268-K EDGAR
  20. Jun 15, 2026424B5 EDGAR

The 265 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 10 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 25, 2026KERSTEN GEERT RChief Executive OfficerBuy100,000$1.38$138.0KForm 4
May 14, 2026KERSTEN GEERT RChief Executive OfficerBuy300,000$1.20$360.0KForm 4
May 13, 2026KERSTEN GEERT RChief Executive OfficerBuy100,000$1.19$119.0KForm 4
Jan 22, 2026KERSTEN GEERT RChief Executive OfficerBuy38,023$5.26$200.0KForm 4
Dec 4, 2025KERSTEN GEERT RChief Executive OfficerBuy8,389$5.96$50.0KForm 4
Jul 25, 2025Watson Robert EugeneDirectorBuy2,919$6.85$20.0KForm 4
Jul 25, 2025KERSTEN GEERT RChief Executive OfficerBuy29,197$6.85$200.0KForm 4
May 8, 2024Watson Robert EugeneDirectorBuy20,000$1.39$27.8KForm 4
May 8, 2024PRICHEP PATRICIA BChief Financial OfficerBuy8,000$1.39$11.1KForm 4
May 8, 2024KERSTEN GEERT RChief Executive OfficerBuy30,000$1.39$41.7KForm 4
Oct 19, 2021TALOR EYALChief Scientific OfficerSale15,000$11.25$168.8KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Geert R. Kersten,67$644.1K$919.9K44
2025Eyal TalorPh.D.,$349.6K$478.8K44
2025Patricia B. Prichep,75$289.2K$406.2K44
2025John Cipriano84$249.6K$306.4K44
2024Chief Executive Officer and Treasurer$644.1K$1.1M44
2024Chief Scientific Officer$349.6K$613.0K44
2024Chief Financial & Operation Officer and Corporate Secretary$289.2K$542.7K44
2024Senior VicePresident of Regulatory Affairs$249.6K$249.6K44

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 41. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Renaissance Technologies LLC572,460$595.4K0.0%+536,570
Vanguard Capital Management LLC543,079$564.8K0.0%+299,434
Citadel Advisors LLC198,500$206.4K0.0%New
MAI Capital Management108,280$112.6K0.0%+17,000
Geode Capital Management, LLC88,200$91.8K0.0%+2,889
Commonwealth Equity Services, LLC51,434$53.5K0.0%+33,812
Vanguard Fiduciary Trust Co49,036$51.0K0.0%No change
BlackRock, Inc.43,261$45.0K0.0%No change
Bank Of America Corp /de/40,916$42.6K0.0%−81
Jane Street Group, LLC36,458$37.9K0.0%New
XTX Topco Ltd34,888$36.3K0.0%+12,332
Osaic Holdings, Inc.32,780$34.1K0.0%+30,897
Us Bancorp \de\29,907$31.1K0.0%No change
State Street Corp27,270$28.4K0.0%No change
Northern Trust Corp21,083$21.9K0.0%+2,149
Raymond James Financial Inc16,013$16.7K0.0%New
HighTower Advisors, LLC10,000$10.4K0.0%No change
Financial Consulate, Inc10,000$10.4K0.0%New
Chilton Capital Management LLC9,156$9.5K0.0%+3,945
UBS Group AG8,025$8.3K0.0%−8,612
Steward Partners Investment Advisory, LLC686$7130.0%No change
Vanguard Global Advisers, LLC536$5570.0%No change
Hilton Head Capital Partners, LLC450$4680.0%No change
Integrated Wealth Concepts LLC367$3820.0%New
Buck Wealth Strategies, LLC256$2660.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Cel-Sci (United States) is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCEL SCI CORP2
  • CIK0000725363
  • Employer ID (EIN)84-09163446
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company6
  • Incorporated inColorado6
  • Fiscal year endsSeptember 302
  • Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business address8229 Boone Blvd ., Suite 802, Vienna, VA 221822
  • Mailing address8229 Boone Blvd., Suite 802, Vienna, VA 221822
  • Phone70350694602
  • Shares outstanding17,588,987 as of Aug 10, 202614
  • Public float$19.0M as of Mar 31, 20256
  • AuditorBDO USA, P.C., Potomac, Maryland PCAOB ID 2436
  • On EDGAR sinceApr 10, 19962
  • Filings1,808 in all: 4 (798), 8-K (202), 424B3 (99), 10-Q (93), CORRESP (64), 424B5 (50), UPLOAD (45), S-3/A (39)2
    All 54 form types

    10-K (32), EFFECT (32), S-3 (32), DEF 14A (28), 10-Q/A (27), S-8 (24), S-1 (22), SC 13G/A (20), POS AM (18), SC 13G (17), 10-K/A (15), DEFA14A (15), PRE 14A (15), S-1/A (14), ARS (13), NT 10-K (13), PRER14A (9), AW (8), NT 10-Q (8), 3 (7), S-3MEF (6), FWP (5), 8-A12B (4), RW (4), 424B2 (3), D (3), 8-K/A (2), DEFR14A (2), DEFS14A (2), SC 13E4/A (2), 25 (1), 25-NSE (1), 4/A (1), 424B4 (1), 425 (1), ANNLRPT (1), AW WD (1), CERTNYS (1), CT ORDER (1), DEL AM (1), DRS (1), NT 10-K/A (1), SC 13D (1), SC 13D/A (1), SC 13E4 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Dec 29, 2025
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jul 2, 2026
    Latest 8-K (8-K) Aug 17, 2026

Securities registered for trading

ClassSymbolExchange
Common StockCVMNYSE

From the cover page of the 10-K filed Dec 29, 2025 (Section 12(b) of the Exchange Act).6

Sources

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