GEERT KERSTEN, CEO of Cel-Sci, purchased 300,000 shares of Cel-Sci at $0.60 per share for a total amount of $180,000 on December 30, 2013. As of the time of writing on December 31, 2013, the stock is trading at $0.59 per share.
CEL-SCI is located in Vienna, Virginia.
According to Capital IQ, CEL-SCI has a market cap of $30 million, an enterprise value of $28 million, and trailing 12 month revenues of only $160,000. These numbers do not seem to reflect the announced corporate financing on December 26th 2013.
CEL-SCI Corporation is engaged in the research and development of drugs and vaccines. The companys lead investigational immunotherapy is Multikine, which is under pivotal phase III clinical trial for the treatment of primary head and neck cancer. Multikine is also being used in a Phase I study with the Naval Medical Center, San Diego under a cooperative research and development agreement in HIV/HPV co-infected men and women with peri-anal warts. In addition, it is developing Ligand Epitope Antigen Presentation System (LEAPS), a patented T-cell modulation process that stimulates the human immune system to fight bacterial, viral, and parasitic infections, as well as autoimmune, allergies, transplantation rejection, and cancer. The company, through its LEAPS technology, is developing a peptide treatment for H1N1 hospitalized patients; and CEL-2000, a rheumatoid arthritis vaccine. CEL-SCI Corporation was founded in 1983.
On December 26th 2013, CEL-SCI Corporation, a late-stage oncology company, announced that it has closed an underwritten public offering of units consisting of an aggregate of 5,238,095 shares of common stock and warrants to purchase an aggregate of 5,238,095 shares of common stock. The securities sold are inclusive of the exercise in full by the underwriters of the over-allotment option to purchase an additional 471,190 shares of common stock and warrants to purchase 471,190 shares of common stock, at a combined price of $0.63, and resulted in aggregate gross proceeds of approximately $3.3 million, prior to deducting underwriting discounts and commissions and offering expenses of the Company. The common stock and warrants will separate immediately. The warrants are immediately exercisable, expire October 11, 2018 and have an exercise price of $1.25. The warrants have been approved for an unpriced quotation on the OTC Bulletin Board under the symbol “CSCIW,” however no market for the warrants has developed as of the date of this press release.
On December 12th 2013, the company issued a letter to shareholders stating that “over the past several months there have been a great number of positive changes in the underlying business of CEL-SCI. These changes have transformed the company from one focused on developing its lead investigational drug, Multikine* (Leukocyte Interleukin, Inj.), for the treatment of head and neck cancer, which represents 6% of the world’s cancer cases, into one that is developing Multikine as an immunotherapy technology platform with the capability to treat multiple diseases, even certain virally induced conditions.”
Geert Kersten’s most recent annual compensation is a salary of $492,000. He is 54 years old.
According to his biography, Mr. Geert R. Kersten, Esq., is Chief Executive Officer, Treasurer, Director of CEL-SCI Corporation since February 1995. He has served in his current leadership role at CEL-SCI since 1995. Mr. Kersten has been with CEL-SCI from the early days of its inception since 1987. He has been involved in the pioneering field of cancer immunotherapy for almost two decades and has steered CEL-SCI through many challenging cycles in the biotechnology industry. Mr. Kersten also provides CEL-SCI with the experience in the fields of finance and law and has a unique vision of how the company’s Multikine product will change the way cancer is treated. Prior to CEL-SCI, Mr. Kersten worked at the law firm of Finley & Kumble and worked at Source Capital, an investment banking firm located in McLean, VA. He is a native of Germany, graduated from Millfield School in England, and completed his studies in the US. Mr. Kersten completed his Undergraduate Degree in Accounting, received an M.B.A. from George Washington University, and a law degree (J.D.) from American University in Washington, DC.