VIENNA, Va., May 18 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION 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
CEL-SCI Corporation
CONTACT: Stockholders: Gavin de Windt of CEL-SCI Corporation,+1-703-506-9460; or Institutional Investors, Brokers & Analysts: MichaelLucci of Lucci Financial Group LLC, +1-248-723-3330, for CEL-SCICorporation
Web site: http://www.cel-sci.com/
