CEL-SCI (NYSEMKT:CVM) issues
a letter to shareholders concerning the Phase 3 trial of Multikine, an
immunotherapy for advanced primary head and neck cancer.
The trial is testing whether the overall survival
improves for patients who receive Multikine immediately after diagnosis
and before surgery, radiation, or chemo.
The study enrolled 928 patients by September 2016.
The study protocol required 298 deaths to occur in the two comparator
groups to determine whether a 10% increase in OS was met.
The company expected to reach that number of
events “some time ago,” but the patients enrolled in the study have a
higher overall survival rate than similar patients not enrolled in the
trial.
CEL-SCI is blind to the details of the study
results but outlines in detail why the company thinks the longer OS is
tied to Multikine.
The company believes it’s nearing the end of the trial, but doesn’t provide any timing information.
CVM shares dropped 42.4% to $9.42 before the halt.
https://seekingalpha.com/news/3546016-cel-sci-drops-after-multikine-related-shareholder-letter
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