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Cel-Sci CEO Geert Kersten spoke privately with investors last week as part of a “non-deal roadshow” organized by Kingswood Capital Markets, an investment bank that has helped the drug maker raise money in the past.

The timing of the meetings is curious, given that more than one year has passed since Cel-Sci completed a Phase 3 clinical trial of its cancer immunotherapy Multikine. As I wrote recently, the only logical explanation for burying results this long is to put off admitting the study’s failure. Multikine does not work.

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