Cel-Sci (CVM) AI Stock Analysis

Cel-Sci

(NYSE MKT:CVM)

Select Model

Rating:46Neutral

Price Target:$1.50▲(8.70% Upside)

Action:reiterated

Date:10/09/26

CVM scores low primarily because of its fragile financial profile: no revenue, persistent losses, heavy cash burn, and a shrinking equity base of about $11M that raises going-concern and shareholder dilution risk. Narrowing losses and improved free cash flow are modest positives but do not offset the lack of a commercial revenue stream. Technicals provide partial support, with the price above its 20-, 50-, and 100-day averages and a positive MACD, though the stock still sits well below its 200-day average and carries very high volatility (beta 2.26). Valuation offers no cushion, with negative earnings and no dividend, leaving the investment case dependent on clinical trial catalysts.

Positive Factors

Focused immunotherapy pipelineA focused immunotherapy program gives CEL-SCI a clear strategic direction and the potential to build specialized expertise around immune-system activation in cancer. If clinical development succeeds, a differentiated candidate could create a scalable commercial opportunity from the company’s concentrated research platform.

Negative Factors

No demonstrated revenue baseZero reported revenue shows that CEL-SCI remains pre-commercial and has not yet demonstrated market acceptance or a repeatable sales engine. Until a product or service generates meaningful revenue, future growth depends primarily on successful development and commercialization rather than established operating demand.

Cel-Sci (CVM) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $24.27M
Dividend Yield: ―
Average Volume (3M): 201.47K
Price to Earnings (P/E): -0.5
Beta (1Y): 2.31
Revenue Growth: ―
EPS Growth: 73.69%
Country: US
Employees: 43
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Cel-Sci Business Overview & Revenue Model

Company Description

CEL-SCI Corporation (CVM) focuses on the research and development of immune-based therapies to combat cancer and various infectious diseases. Its flagship immunotherapy candidate, Multikine, is currently undergoing Phase III clinical trials for the t...

Cel-Sci Financial Statement Overview

Summary

Cel-Sci remains a pre-revenue clinical-stage biotech with zero revenue, a TTM net loss of $22.7M, and negative operating cash flow of $16.7M. Although losses and cash burn have narrowed meaningfully (net loss down from $39.2M in FY2021, free cash flow improved 55%), this stems from cost control rather than commercial progress. The balance sheet has eroded sharply — total assets fell from $75.9M to $21.4M and equity to roughly $11.0M — leaving a thin cushion, a rising debt-to-equity ratio of 0.72, and return on equity of -202%. Going-concern and dilution risk are the dominant concerns.

Income Statement

5Very Negative

Balance Sheet

22Negative

Cash Flow

12Very Negative

Financial statement breakdown
Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	0	0	0	0	0	0
Gross Profit	-6.54M	-15.89M	-3.97M	-22.47M	0	0
EBITDA	-18.49M	-20.88M	-22.21M	-27.52M	-31.79M	-32.98M
Net Income	-22.70M	-25.41M	-26.92M	-32.37M	-36.70M	-36.36M
Balance Sheet
Total Assets	21.36M	28.16M	26.99M	30.53M	50.52M	75.87M
Cash, Cash Equivalents and Short-Term Investments	6.53M	10.95M	4.74M	4.15M	22.67M	42.21M
Total Debt	7.89M	9.38M	11.62M	13.57M	15.30M	15.97M
Total Liabilities	10.40M	12.20M	14.12M	17.31M	18.36M	19.34M
Stockholders Equity	10.96M	15.96M	12.87M	13.21M	32.16M	56.53M
Cash Flow
Free Cash Flow	-16.75M	-17.16M	-18.91M	-23.22M	-18.88M	-27.83M
Operating Cash Flow	-16.75M	-17.12M	-18.81M	-22.85M	-18.24M	-18.79M
Investing Cash Flow	-5,155	-38.11K	-108.09K	-372.26K	5.49M	-15.18M
Financing Cash Flow	21.49M	23.37M	19.51M	4.69M	-638.43K	54.52M

Cel-Sci Technical Analysis

Technical Analysis SentimentNegative

Last Price1.38

Price Trends

50DMA1.70Negative

100DMA1.48Negative

200DMA2.52Negative

Market Momentum

MACD-0.08Positive

RSI35.95Neutral

STOCH14.97Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVM, the sentiment is Negative. The current price of 1.38 is below the 20-day moving average (MA) of 1.79, below the 50-day MA of 1.70, and below the 200-day MA of 2.52, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 35.95 is Neutral, neither overbought nor oversold. The STOCH value of 14.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CVM.

Cel-Sci Risk Analysis

Cel-Sci disclosed 39 risk factors in its most recent earnings report. Cel-Sci reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

Cel-Sci Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

CVM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CVM	46Neutral	$24.27M	-0.53	-202.14%	―	―	73.69%
ATHE	41Neutral	$42.68M	-2.40	-48.25%	―	―	96.65%
UNCY	41Neutral	$104.18M	-2.23	-88.81%	―	―	43.63%
PLRX	37Underperform	$53.18M	-0.58	-53.22%	―	―	55.84%

* Healthcare Sector Average

Performance Comparison

CVM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
CVM	Cel-sci	1.38	-5.71	-80.54%
ATHE	Alterity Therapeutics	2.16	-1.87	-46.40%
XBIT	XBiotech Inc.	1.88	-0.41	-17.90%
PLRX	Pliant Therapeutics, Inc.	0.86	-0.81	-48.62%
UNCY	Unicycive Therapeutics, Inc.	3.74	-0.70	-15.77%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 09, 2026

Cel-Sci AI Stock Analysis