Cel-Sci (CVM) chief executive Geert Kersten used a public letter to shareholders Thursday to express confidence in the outcome of an ongoing Phase 3 clinical trial involving its cancer immunotherapy.
Privately, Cel-Sci pitched a sale of its stock to institutional investors earlier this week, according to a source familiar with the deal. The proposed equity financing was aborted, but suggests Cel-Sci is more fearful about the future of the therapy, called Multikine, than it’s willing to say publicly.
Multikine is being studied as a potential neoadjuvant treatment for people with newly diagnosed head and neck cancer. In a previous column, I explained the myriad reasons why the Phase 3 clinical trial, which compares Multikine to standard therapy and uses overall survival as its primary endpoint, was destined to fail.
About the Author Reprints
1. On October 25, 2019, Mr. Kersten purchased $25,000 worth of restricted stock directly from the Company at the closing price on October 24, 2019, the most recent closing price available.
Makes perfect sense since its a scam, right ADAM? Where are the bodies from the so called failed trial? WHY is the CEO buying RESTRICTED STOCK if the trial is failing?
These intentional self-serving hit piece articles are truly pathetic and do StatNews a great disservice with its BIAS!
Total hogwash. Geert wouldnt respond to Adams email to answer why he TURNED DOWN hedgie financing so he does this? The illegality of what is going on here is disturbing and discredits StatNews greatly.