CEL-SCI Corporation Nears Key Commercial Milestones

First Berlin Equity Research maintains its BUY rating for CEL-SCI Corporation, setting a new target price of USD 60. The company is advancing towards a critical commercial milestone in 2025. It has applied for Breakthrough Medicine Designation for Multikine, an immunotherapy for head and neck cancer, with the Saudi Food & Drug Authority. Approvals could arrive by late October, enabling swift commercialization in Saudi Arabia.

Additionally, CEL-SCI has signed a memorandum with Dallah Pharma, facilitating regulatory and market access in Saudi Arabia. The US FDA has greenlighted a confirmatory registration study for Multikine, conditional on securing USD 30 million in funding. Financially, CEL-SCI has raised USD 28.5 million and conducted a reverse stock split, ensuring NYSE compliance and extending cash runway to mid-2026.