Cel Sci Corporation (CVM)

[Spideyboy]

If indeed there have been holders exercising their warrants, then that would make a little extra runway.

However while I'm not saying that isn't true,, I do find it rather surprising. Based on the list of warrants and their expiry date, the warrants presented by Fosco are not due until Feb or Nov 2020 at the earliest. Both those warrants are also worth 256,000 and 525,000 respectively, which coming to just under 800,000 is nice of course, but providing half a month burn at the 1.6 million per month burn rate. The other warrants are due much later and thus if we are all correct, those holders will want to execute after results are out.
https://docs.google.com/spreadsheets/d/1ulpVesaigAtoU_rXoZ8t-A3sonbKHs6T8YV95lGMYBw/edit#gid=369549476

Even at the cash burn and resources I mention, I agree that they do have the cash to get to year end, that is with 6-7 million in the bank now, they have precisely the cash needed to get to November, maybe December. But that would be if they run down to zero. But what management will wait to get to zero.

"My impression is that they would prefer funding at a higher price point after data readout". I find this rather obvious. Of course management would prefer to do funding at a higher price point, and of course the higher/highest price point would hope to be achieved after positive data readout. If the study ends soon, then that will happen, but we also have the potential expectation for end-of year read-out.

Yes I agree they know the numbers, but I also agree with Fosco that that in of itself may not be public information and based on such data the more recent insider purchases may not be considered insider trading while blinded.

Until we see clear information pointing otherwise, I still expect a financing in August, maybe September. Looking forward to the next earnings which should come in about mid-August to clarify the cash management.