CEL-SCI Corporation (NYSEMKT: CVM) is off to an overwhelmingly rough day in the market today, and for good reason. The company informed investors that a clinical hold has been put on a key Phase 3 clinical trial by the FDA. This led to fear among investors, sending the stock sliding down and prompting our partners at Trade Ideas to alert us to the losses. At the moment (8:35), CVM is trading at $0.08 per share after a loss of $0.04 per share (32.19%) thus far today.
CVM Falls On Clinical Hold
As mentioned above, CEL-SCI Corporation is having a rough time in the market this morning after announcing that the FDA has placed a clinical hold on a key Phase 3 clinical trial. The trial is assessing Multikine (Leukocyte Interleukin, Injection) for the treatment of head and neck cancer. As a result of the clinical hold, all dosing of the treatment must stop immediately.
In a statement, the company explained that all participants already enrolled have completed the planned treatment schedule. As a result, the FDA clinical hold will only pertain to new enrollments. Nonetheless, for the time being, CVM will no longer be able to move forward with the study.
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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 learning more about the clinical hold and watching to see if this hold is lifted any time soon. We’ll continue to follow the story closely and bring the news to you as it breaks!
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