NYSE$CVM
Cel-Sci Corp · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
Cel-Sci Corp reported a net loss of $5.5 million for the second quarter ended March 31, 2026.
Cel-Sci Corp, a clinical-stage biotechnology company, continued to incur significant operating losses during the quarter as it advances its Multikine immunotherapy program. Research and development expenses totaled $3.8 million while general and administrative costs were $1.6 million. The company ended the period with $1.9 million in cash and is focused on initiating a confirmatory Phase 3 registration study.
- Net loss for the quarter was $5.5 million, or $0.67 per share, compared to $6.6 million, or $2.33 per share, in the prior-year quarter.
- Cash and cash equivalents declined to $1.9 million from $11.0 million at September 30, 2025, reflecting ongoing burn from clinical development activities.
- The company is preparing a 212-patient confirmatory registration study for Multikine in a defined head and neck cancer target population and estimates the study will cost $30-35 million.
- No revenue was recorded as the company remains in the development stage with no approved products.
Headline financials
Revenue & EPS history
Cel-Sci · Revenue · Quarterly
$22K
Forward guidance
Management is focused on raising capital to fund a 212-patient confirmatory Phase 3 study for Multikine and pursuing regulatory pathways in the US, Canada, UK and Europe.
Tailwinds
- Strong survival data in target population supports high likelihood of study success
- FDA has indicated the company may proceed with the confirmatory registration study
Headwinds
- Substantial doubt about ability to continue as a going concern without additional financing
- Estimated $30-35 million required to complete the confirmatory study
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2026
+0.0%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+2.2%
Avg return
30 days after
42%
28 / 66 earnings
Positive
+20.4%
Q1 2014
Best reaction
-13.5%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +10.9% | +21.1% | — | |
| Q1 2026 | -5.3% | -1.6% | -26.5% | |
| Q4 2025 | +10.6% | +9.3% | +33.8% | |
| Q3 2025 | -3.2% | +1.4% | +22.8% | |
| Q2 2025 | -6.0% | -29.0% | -68.7% | |
| Q1 2025 | -5.6% | -11.1% | -33.3% | |
| Q4 2024 | -4.8% | -7.0% | -2.3% | |
| Q3 2024 | -1.7% | -2.6% | +11.3% | |
| Q2 2024 | -11.8% | -9.0% | -9.7% | |
| Q1 2024 | +3.1% | +2.2% | -12.2% | |
| Q4 2023 | +1.1% | +12.9% | -10.7% | |
| Q3 2023 | -12.7% | -9.9% | -15.5% | |
| Q2 2023 | -4.1% | -0.4% | -10.0% | |
| Q1 2023 | -2.9% | +11.4% | -15.0% | |
| Q4 2022 | -1.3% | +2.6% | +16.6% | |
| Q3 2022 | +10.8% | +5.0% | -1.9% | |
| Q2 2022 | +15.1% | +10.2% | +35.9% | |
| Q1 2022 | +3.6% | -5.7% | -27.9% | |
| Q4 2021 | +1.1% | +4.6% | -27.2% | |
| Q3 2021 | +4.8% | +5.5% | +23.9% | |
| Q2 2021 | +4.8% | +10.0% | +13.9% | |
| Q1 2021 | -13.5% | -15.8% | -21.7% | |
| Q4 2020 | -5.0% | -8.5% | +52.3% | |
| Q3 2020 | +3.4% | +5.7% | +14.2% | |
| Q2 2020 | +8.0% | +7.6% | -4.7% | |
| Q1 2020 | -1.6% | -2.3% | -33.1% | |
| Q4 2019 | +9.2% | +18.1% | +17.6% | |
| Q3 2019 | -4.1% | -0.9% | -7.8% | |
| Q2 2019 | -3.9% | -28.3% | -21.3% | |
| Q1 2019 | -3.8% | -3.8% | +1.0% | |
| Q4 2018 | +3.3% | +7.3% | -1.1% | |
| Q3 2018 | -2.9% | +15.7% | +209.8% | |
| Q2 2018 | -9.6% | -11.5% | -1.9% | |
| Q1 2018 | -3.8% | -1.6% | -1.1% | |
| Q4 2017 | +0.5% | +4.9% | +22.7% | |
| Q3 2017 | -2.2% | +32.2% | -22.0% | |
| Q2 2017 | -1.4% | +0.0% | +0.0% | |
| Q1 2017 | +13.3% | +18.2% | -9.1% | |
| Q4 2016 | -13.5% | -18.2% | +18.2% | |
| Q3 2016 | -2.4% | -2.0% | -21.6% | |
| Q2 2016 | +0.9% | — | — | |
| Q1 2016 | +6.2% | — | — | |
| Q4 2015 | -7.7% | — | — | |
| Q3 2015 | +0.0% | — | — | |
| Q2 2015 | -8.1% | — | — | |
| Q1 2015 | +12.9% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q3 2014 | +3.8% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | +20.4% | — | — | |
| Q4 2013 | +2.6% | — | — | |
| Q3 2013 | -4.6% | — | — | |
| Q2 2013 | -2.3% | — | — | |
| Q1 2013 | -3.2% | — | — | |
| Q4 2012 | -0.6% | — | — | |
| Q3 2012 | +0.3% | — | — | |
| Q2 2011 | +6.3% | — | — | |
| Q2 2012 | +6.3% | — | — | |
| Q1 2011 | +5.0% | — | — | |
| Q1 2012 | +3.5% | — | — | |
| Q4 2009 | -5.2% | — | — | |
| Q4 2011 | -5.2% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q3 2011 | -0.3% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q2 2010 | -5.1% | — | — |
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