Shares of CEL-SCI Corporation (NYSEMKT:CVM) added 1.22% by the end of trading session at $0.1. The net percentage change is -82.51% over the last 12 months. The trading range in the same period had a highest hit of $0.62 while lowest level was $0.06. At the moment the price is -9.67% below its 50-day moving average and -66.66% below its 200-day moving average.
CEL-SCI Corporation (NYSEMKT:CVM) on March 9, 2017 announced that it has entered into a definitive agreement with institutional investors for an offering of shares of common stock with gross proceeds of approximately $1.5 million in a registered direct offering. The closing of the offering is expected to take place on or about March 14, 2017, subject to the satisfaction of customary closing conditions.
In connection with the offering, the CEL-SCI will issue approximately 15 million registered shares of common stock at a purchase price of $0.10 per share. Concurrently in a private placement, the Company will issue warrants to purchase up to 15 million shares of its common stock. For each share of common stock purchased by an investor, such investor in the private placement will receive from the CEL-SCI an unregistered warrant to purchase one share of common stock. The warrants have an exercise price of $0.12 per share, will be exercisable upon the 6 month anniversary of the issue date, and will expire five and a half years from the issue date.
Pain Therapeutics, Inc. (NASDAQ:PTIE) last exchanged hands at a price $0.77/share, registering a gain of 16.62%. Among 1 Wall Street analysts tracked by Thomson/First Call, the average PT for PTIE is $1.75 but some of them are predicting the price to move at the $1.75 level. If the most optimistic analysts are correct, the expected total return from the current price would be 127.27. The number of shares traded in most recent trading day was 2.75M shares which averages 353.01K shares a day. Its previous fifty two week high was $3 and moved down -61.89% over the same time frame, currently having a market cap around $34.88 million. Shares have risen 18.45% over the trailing six months. At the moment, the stock trades 31.04% above its 50-day moving average and -44.47% below its 200-day moving average.
Pain Therapeutics, Inc. (NASDAQ:PTIE) on February 17, 2017 reported financial results for the year ended December 31, 2016. Net loss in 2016 was $14.9 million, or $0.33 per share, compared to a net loss in 2015 of $14.1 million, or $0.31 per share. Cash and investments were $18.7 million as of December 31, 2016, with no debt. In the first two quarters of 2017, the Company expects its quarterly net cash burn rate will range from $2.0 million to $2.5 million.
Financial Highlights for 2016
- At December 31, 2016, cash and investments were $18.7 million, compared to $31.3 million at December 31, 2015. The Company has no debt.
- Net cash used in 2016 was $12.6 million.
- We received $1.5 million in 2016 under a grant from the NIH for preclinical activities for PTI-125, our Alzheimer’s disease product candidate.
- Research and development expenses increased to $9.2 million in 2016 from $9.1 million in 2015, primarily due to increased non-cash stock related compensation, offset in part by the funds from the NIH grant. R&D expenses included non-cash stock related compensation of $1.8 million in 2016 and $1.2 million in 2015.
- General and administrative expenses increased to $5.8 million in 2016 from $5.1 million in 2015, primarily due to increased non-cash stock related compensation costs. G&A expenses included non-cash stock-related compensation costs of $2.6 million in 2016 and $2.3 million in 2015.