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Sep 30, 2025
Cel-Sci Q4 2025 Earnings Report
Cel-Sci reported a wider quarterly loss while continuing to invest heavily in research and development with no product revenue.
Key Takeaways
In Q4 2025, Cel-Sci generated no revenue and reported a significant net loss driven by ongoing R&D and operating expenses as the company continued advancing Multikine without commercial sales.
No revenue was generated during the quarter as products remain under development.
Net loss in Q4 reflected sustained investment in research and clinical activities.
Operating loss remained substantial due to high R&D and administrative costs.
The company ended the fiscal year with a solid cash balance to fund operations.
Forward Guidance
Management expects continued losses as it advances clinical development and seeks regulatory approvals, requiring additional capital over time.
Positive Outlook
- Phase III data for Multikine has been completed and presented at multiple conferences.
- Regulatory strategy includes pursuing approvals in the U.S. and international markets.
- Cash on hand provides near-term funding for ongoing operations.
- R&D focus remains concentrated on core lead assets.
- Management continues active fundraising efforts.
Challenges Ahead
- No product revenue expected in the near term.
- Ongoing operating losses are expected to continue.
- Additional capital will be required to fund future trials.
- Regulatory approval timelines remain uncertain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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