VIENNA, Va., Feb. 14 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION
(Amex: CVM) reports financial results for the first quarter fiscal year
2007, ending December 31, 2006.
Highlights:
-- Net loss for the three months ending December 31, 2006 was
approximately $1.1 million compared with an operating loss of
approximately $1 million during the quarter ending December 31, 2005.
-- The net loss per common share remained at $0.01 during the quarter
ending December 31, 2006, the same as the net loss per common share of
$0.01 for the quarter ending December 31, 2005.
-- During the three-month period ended December 31, 2006, research and
development expenses increased by $71,269 compared to the three-month
period ended December 31, 2005.
-- During the three-month period ended December 31, 2006, general and
administrative expenses increased by $479,668 compared to the three-
month period ended December 31, 2005.
CEL-SCI Corporation is developing new immune system based treatments
for cancer and infectious diseases. The Company has operations in Vienna,
Virginia and Baltimore, Maryland.
CEL-SCI CORPORATION
-------------------
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
---------------------------
(unaudited)
Three Months Ended
December 31,
2006 2005
REVENUE:
Grant revenue $13,862 $23,757
Rent income 6,090 6,090
Other income 841 -
Total Revenue 20,793 29,847
EXPENSES:
Research and development, excluding
depreciation of $20,493 and $18,511
included below 506,158 434,889
Depreciation and amortization 41,842 43,790
General and administrative 1,052,704 573,036
Total Expenses 1,600,704 1,051,715
LOSS FROM OPERATIONS (1,579,911) (1,021,868)
GAIN ON DERIVATIVE INSTRUMENTS 719,247 13,337
INTEREST INCOME 95,551 11,404
INTEREST EXPENSE (347,246) -
NET LOSS BEFORE INCOME TAXES (1,112,359) (997,127)
INCOME TAX PROVISION - -
NET LOSS $(1,112,359) $(997,127)
NET LOSS PER COMMON SHARE (BASIC) $(0.01) $(0.01)
NET LOSS PER COMMON SHARE (DILUTED) $(0.01) $(0.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 82,928,432 74,998,621
SOURCE CEL-SCI Corporation
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Related links:
http://www.cel-sci.com
CONTACT:
Gavin de Windt of CEL-SCI Corporation,
+1-703-506-9460
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