CEL-SCI Corporation (NYSEMKT: CVM) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it received a letter from the FDA giving the company a green light on a cancer study that was on a clinical hold. As you could imagine, this led to excitement among investors, sending the stock toward the top and prompting an alert from our partners at Trade Ideas. At the moment (8:12), CVM is trading at $3.65 per share after a gain of $1.34 per share (58.01%) thus far today.
CVM Gains On Removal Of Clinical Hold
As mentioned above, CEL-SCI Corporation is having an overwhelmingly strong day in the market today after it was announced that a clinical hold has been lifted. The hold was with regard to the company’s Phase 3 cancer study surrounding Multikine* (Leukocyte Interleukin, Inj.). Today, the company has announced that the Phase 3 clinical study will resume.
At the moment, CVM is working on Multikine as a first-line immunotherapy that harnesses the patient’s immune system to produce an anti-tumor response. This treatment is specifically designed for head and neck cancer. The ultimate goal of the study is to show a 10% increase in overall survival when treated with Multikine and compared to the current standard of care.
Of course, if the study goes well, it will be overwhelmingly positive, not only for CVM, but for the medical community as a whole. After all, the last time the FDA approved a treatment designed for advanced primary head and neck cancer was more than 50 years ago. So, there is an inherent need for a strong treatment option.
Stop wasting time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CVM. In particular, we’re interested in following the ongoing Phase 3 study of Multikine and excited to see the results, when available. We’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!