STOCKHOLDERS EQUITY

12 Months Ended

Sep. 30, 2023

STOCKHOLDERS EQUITY

STOCKHOLDERS' EQUITY

12. STOCKHOLDERS’ EQUITY 

Exercise of Warrants

During the years ended September 30, 2023 and 2022, the Company received proceeds of approximately $0.4 million and $0.1 million, respectively, from the exercise of warrants, as detailed in Note 4.  Upon exercise, 217,752 and 25,205 shares of common stock were issued during the years ended September 30, 2023 and 2022, respectively.

Sales of Securities

On May 2, 2023, the Company sold 913,234 shares of common stock at a public offering price of $1.70 per share and received aggregate proceeds of approximately $1.55 million.  On July 20, 2023, the Company sold 2,500,000 shares of common stock at a public offering price of $2.00 per share and received aggregate proceeds of approximately $5.0 million.

There were no sales of securities during the fiscal year ended September 30, 2022.   

Other Equity Transactions

The Company entered into Securities Purchase Agreements (SPA) with Ergomed plc, one of the Company’s Clinical Research Organizations responsible for managing the Company’s Phase III clinical trial, to facilitate payment of amounts due Ergomed.  Under the Agreements, the Company issued Ergomed shares of common stock and the net proceeds from the sales of those shares reduces outstanding amounts due Ergomed.  Upon issuance, the Company expenses the full value of the shares as Other non-operating gain/loss and subsequently offsets the expense as amounts are realized through the sale by Ergomed and reduces accounts payable to Ergomed.   

During the years ended September 30, 2023 and 2022, CEL-SCI did not issue Ergomed any shares of common stock. Additionally, no shares were sold during the years ended September 30, 2023 and 2022. All outstanding shares have been resold as of September 30, 2023 and 2022 and the Company had approximately $0 and $22,000 in amounts remaining in prepaid to Ergomed as of September 30, 2023 and 2022, respectively.