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CEL-SCI (CVM) Announces NYSE Acceptance of Listing Compliance Plan



9/5/2013 10:24:47 AM

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On September 3, 2013, CEL-SCI Corporation announced that the New York Stock Exchange (NYSE) accepted the company’s plan to regain compliance with the NYSE’s continued listing standards.

In July 2013 the company was notified by the NYSE that it was not in compliance with listing requirement section 1003(a)(iv) due to sustained substantial losses that jeopardized Cel-Sci’s ability to continue operations or meet maturing obligations. The company was required to submit a plan by August 19, 2013, advising the exchange of the actions the company had taken, or will take, that would bring it into compliance by September 30, 2013.

On August 30, 2013, the NYSE notified the company that it accepted the plan of compliance and granted Cel-Sci an extension until September 30, 2013 to regain compliance with the continued listing standards. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in Cel-Sci being delisted from the NYSE.

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Company Description:

CEL-SCI Corporation (NYSE: CVM), headquartered in Vienna, Virginia, is a development stage biopharmaceutical company focused on unique immunotherapies that address unmet needs in significant patient populations.

In recent years, the company’s R&D has centered on immunotherapy for head and neck cancer, which now absorbs practically all of its R&D spending. Product development includes work on LEAPS (Ligand Epitope Antigen Presentation System) technology treatments for a range of influenzas and a vaccine against rheumatoid arthritis.

The company’s lead drug candidate, Multikine®, is a synthesized combination, non-specific immunotherapy currently being evaluated in a phase III study as neoadjuvant therapy for advanced primary (untreated) head and neck cancer.

Multikine is under study in a 48-center, 800+ subject phase III clinical trial that aims to demonstrate that it can, in combination with follow-on surgery, radiation and chemotherapy, reduce mortality in advanced head and neck cancer cases by 10%. The therapy aims to reduce mortality by eradicating micro-metastases, microscopic tumors that survive the therapy, are difficult to detect, and are arguably the underlying cause of disease recurrence.

Multikine has orphan drug status in the US.

Taglich Brothers:

Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

The Taglich Brothers' Equity Research department is dedicated to providing research reports that are informative, insightful and illuminating. Reports are designed to distill volumes of investment information into a concise, straightforward format so that busy professional investors can make informed investment decisions.

Disclaimer:

The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned and was not a manager or co-manager of any offering for the company within the last three years. In January 2013 the company paid an initial monetary engagement fee of US$4,500 to Taglich Brothers, Inc. representing payment for the first three months of creation and dissemination of research reports, after which the company will pay Taglich Brothers, Inc. a monetary fee of US$1,500 per month for a minimum of three more months for such services.

Contact

Richard Oh

Email: press@taglichbrothers.com

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