Cel-Sci’s confusing confidence
On Thursday, the CEO of Cel-Sci sent a letter to investors reaffirming his confidence that a long-awaited trial of the company’s cancer drug would soon come up positive. But just days before, the company privately pitched a stock sale to investors, STAT’s Adam Feuerstein reports, a revelation that calls into question Cel-Sci’s confidence.
That’s because if the company is correct and its drug, a treatment for head and neck cancer, will soon be vindicated, the smart move would be to wait. A successful trial would boost the stock price and thus make a future financing more lucrative for Cel-Sci.
Instead, the company shopped around for cash when the stock price was at $8, suggesting management might not be as confident in the future as it let on in public.
Read more.
That’s because if the company is correct and its drug, a treatment for head and neck cancer, will soon be vindicated, the smart move would be to wait. A successful trial would boost the stock price and thus make a future financing more lucrative for Cel-Sci.
Instead, the company shopped around for cash when the stock price was at $8, suggesting management might not be as confident in the future as it let on in public.
Read more.
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