VIENNA, Va., May 18 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION
(Amex: CVM) reports financial results for the first quarter fiscal year
2006, ending December 31, 2005.
Net loss for the three months ending December 31, 2005 was $997,127
compared with a net loss of $1,229,443 during the quarter ending December
31, 2004.
"Grant revenue and other" decreased by $45,660 during the three months
ended December 31, 2005 compared to the same period of the previous year.
Research and Development expenses decreased from $701,104 in the
quarter ending December 31, 2004 to $434,889 in the quarter ending December
31, 2005. This was because CEL-SCI had completed the necessary work for the
Phase III clinical trial application in the previous year.
General and Administrative expenses increased from $532,214 in the
quarter ending December 31, 2004 to $573,036 in the quarter ending 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,
2005 2004
REVENUES:
Grant revenue and other $29,847 $75,507
EXPENSES:
Research and development, excluding
depreciation of $18,511 and $33,651
included below 434,889 701,104
Depreciation and amortization 43,790 56,679
General and administrative 573,036 532,214
Total Operating Expenses 1,051,715 1,289,997
NET OPERATING LOSS (1,021,868) (1,214,490)
GAIN (LOSS) ON DERIVATIVE INSTRUMENTS 13,337 (32,773)
INTEREST INCOME 11,404 17,820
NET LOSS $(997,127) $(1,229,443)
NET LOSS PER COMMON SHARE (BASIC) $(0.01) $(0.02)
NET LOSS PER COMMON SHARE (DILUTED) $(0.01) $(0.02)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 74,998,621 72,178,816
SOURCE CEL-SCI Corporation
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Related links:
http://www.cel-sci.com
CONTACT:
Stockholders: Gavin de Windt of CEL-SCI
Corporation, +1-703-506-9460; or Institutional Investors, Brokers
& Analysts: Michael Lucci of Lucci Financial Group LLC,
+1-248-723-3330, for CEL-SCI Corporation
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