October 24, 2006 12:15 PM Eastern Time
Dutton Associates Announces Investment Opinion: CEL-SCI Speculative Buy Rating in Initiating Coverage by Dutton Associates
NOTE TO EDITORS: The following is an investment opinion issued
by Dutton Associates
EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates initiates coverage of CEL-SCI (AMEX:CVM) with a speculative buy rating and a $1.00 target price. The 15-page report by Dutton senior analyst William R. Prather, R.Ph., M.D. is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.
CEL-SCI is involved in the research and development of drugs and vaccines for the treatment of cancer and infectious diseases. CEL-SCI Corporation is preparing for a multi-country, multi-center, 500 patient, pivotal phase III trial with Multikine®, the Company’s unique, proprietary product intended as adjunctive, first-line therapy for squamous cell carcinoma of the head and neck (SCCHN), a disease whose recurrence rate is common and prognosis remains poor despite the addition of both radiation and chemotherapy to surgery. We believe the results of this study will dictate the success or failure of CEL-SCI as an investment. The clinical use of Multikine in over 200 patients to date suggests the product is safe and potentially efficacious. We believe Multikine is possibly a first in a class of drugs that acts on both the cancer and the host’s anti-cancer immune response. We believe Multikine will eventually take its rightful place as part of the armamentarium for the treatment of SCCHN. We believe the value of the common stock of CEL-SCI could be multiples of its current market capitalization of approximately $54 million if Multikine proves successful in its upcoming clinical trial and considering the drug will participate in a multiple-billion dollar market for the treatment of SCCHN.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $39,500 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 10/24/2006. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Contacts
Dutton Associates
John M. Dutton, President, 916-941-8119
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