10-Q · May 15, 2026
CEL-SCI Corporation's Q2 2026 report reflects significant ongoing operational loss and regulatory progress with its lead product candidate, Multikine. The firm recorded a net operating loss of approximately $10.7…
Earnings analysis · 10-Q
CVM earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
The provided 10-Q extract does not disclose revenue, margins, EPS, cash flow, balance-sheet figures, segment results, or quantitative guidance, so operating performance cannot be assessed from the available text. The…
Read full summary
The provided 10-Q extract does not disclose revenue, margins, EPS, cash flow, balance-sheet figures, segment results, or quantitative guidance, so operating performance cannot be assessed from the available text. The principal filing signal is negative: disclosure controls were ineffective as of June 30, 2026 due to material weaknesses previously described in the 2025 Form 10-K. The issuance of 610,805 restricted shares during the nine months ended June 30, 2026, including approximately $729,000 of CEO equity compensation, also indicates continued reliance on equity financing or compensation.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Consultant Equity Issuances
During the nine months ended June 30, 2026, the company issued 164,393 restricted shares to consultants for investor relations and advisory services.
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CEO Share-Based Compensation
During the nine months ended June 30, 2026, the company issued 446,412 restricted shares to its CEO at an aggregate fair market value of approximately $729,000, providing non-cash compensation but increasing dilution.
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Period-End Controls Assessment
Management evaluated disclosure controls as of June 30, 2026, providing a specific period-end assessment of the company’s reporting controls.
What to watch
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Ineffective Disclosure Controls
The CEO and Chief Financial and Operations Officer concluded that disclosure controls were not effective as of June 30, 2026 because of material weaknesses described in the September 30, 2025 Form 10-K.
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Ongoing Equity Dilution
The company issued 610,805 restricted shares in aggregate during the nine months ended June 30, 2026—164,393 shares to consultants and 446,412 shares to the CEO—which creates ongoing equity dilution.
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No Control Improvement Reported
The filing states that the company’s disclosure controls remained ineffective as of June 30, 2026, and reports no material changes in internal control over financial reporting during the three months ended June 30, 2026.
Management's outlook
No quantitative revenue or EPS outlook is disclosed in the provided 10-Q extract; outlook may be deferred to a separate earnings release or call.
Earlier filings 4
10-Q · February 17, 2026
CEL‑SCI reported a narrower net loss of $5,469,446 for the three months ended December 31, 2025 versus a loss of $7,073,062 in the prior-year quarter, and loss per share improved to $(0.68) from $(3.25). Cash declined…
10-Q · May 14, 2025
CEL‑SCI reported no revenue and a narrower quarterly net loss of $6,572,389 (EPS -$0.08) for the three months ended March 31, 2025, versus $7,244,891 (EPS -$0.14) in the prior-year quarter. Cash declined to $1,924,305…
10-Q · February 14, 2024
CEL‑SCI reported a net loss of $6,709,524, or $(0.14) per share, for the three months ended December 31, 2023, an improvement from net loss of $7,853,509, or $(0.18) per share, in the prior-year quarter. Operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.