Cel-Sci Corporation Common Stock (CVM)

FairStock Score: 50/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Cel-SCI as a Graham-style analyst: without dependable earnings or cash flow, the numbers offer little intrinsic-value anchor. The business is a clinical-stage biotech whose lead immunotherapy, Multikine, has completed Phase III trials for certain head and neck cancers, and it is also developing the patented LEAPS T-cell modulation technology. But there is no revenue in the filed figures. In fiscal 2025, the year ended 2025-09-30, Cel-SCI reported a net loss of $25.4 million and diluted EPS of -$6.27. In fiscal 2024, the year ended 2024-09-30, the net loss was $26.9 million, or -$15.31 per diluted share, and in fiscal 2023, ended 2023-09-30, the net loss was $32.4 million, or -$0.73 per diluted share. Recent quarters show no relief: in fiscal Q3 2026, the quarter ended 2026-06-30, net loss was $5.7 million, or -$0.47 per diluted share; in fiscal Q2 2026, ended 2026-03-31, net loss was $5.5 million, or -$0.67; and in fiscal Q1 2026, ended 2025-12-31, net loss was $5.5 million, or -$0.68. Trailing free cash flow was -$16.8 million, a -54.4% FCF yield on the $30.8 million market cap at the 2026-10-13 close. FairStock calculations show P/E -1.04, P/B 2.82, ROE -252.53%, ROCE -66.82%, D/E 0.72, Piotroski 2/9, and Altman Z -34.54. The Lynch category is none because losses occurred in each of the last four years. There is no durable moat yet: no approved product, no revenue, and value depends on clinical and regulatory outcomes. The price may reflect hope, but not a margin of safety I can calculate.

In plain English: Cel-SCI is a small healthcare company testing a cancer treatment, mainly for head and neck cancer. It has no reported revenue and has lost money every year, including a $25.4 million loss in fiscal 2025. At $1.75, the price looks speculative against its numbers because the company is not yet profitable and spends more cash than it brings in.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-06-30) · fiscal Q2 2026 10-Q (period ended 2026-03-31) · fiscal Q1 2026 10-Q (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-09-30) · FY2024 10-K (period ended 2024-09-30) · FY2023 10-K (period ended 2023-09-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer