0001654954-26-001319
SEC filingCEL-SCI Corporation reported a net loss of $5.5 million for Q1 2026 (period ending December 31, 2025), consistent with its pre-revenue clinical-stage status. Operating expenses totaled $5.4 million, comprising $3.7 million in research and development and $1.7 million in general and administrative costs, resulting in an operating loss of $5.4 million. The company ended the quarter with $6.3 million in cash and cash equivalents, down from $11.0 million at the end of the prior period, reflecting a net decrease in cash of $4.7 million primarily due to $4.0 million used in operating activities. Total assets stood at $22.9 million, with stockholders' equity of $11.1 million. No revenue was reported, and the net loss per share was $1.00 based on 8.0 million weighted average shares outstanding. The filing indicates ongoing investment in R&D as the company advances its clinical programs.
CEL-SCI Corporation reported a net loss of $5.5 million for the first quarter of fiscal 2026 (period ending December 31, 2025), compared to no prior period data provided for QoQ comparison. Operating loss was $5.4 million, driven by total operating expenses of $5.4 million, which included $3.7 million in research and development and $1.7 million in general and administrative costs. Interest expense net was $88,000, and other expense was $13,000. The net loss per common share (basic and diluted) was $1.00, based on 8.0 million weighted average common shares outstanding. The company remains pre-revenue, with no sales or other income reported in the period.
No revenue was disclosed in the filing for Q1 2026. The document and XBRL data show no revenue figures, indicating the company is in a clinical-stage development phase without commercial product sales. No segment breakdown, geographic mix, or growth drivers related to revenue are provided, as the company's operations are focused on research and development activities.
Gross margin and operating margin are not applicable as no revenue was reported. The cost structure is dominated by operating expenses, with research and development comprising 68.5% of total operating expenses ($3.7 million out of $5.4 million) and general and administrative making up the remaining 31.5% ($1.7 million). The operating loss of $5.4 million reflects the company's investment in its clinical programs, with no profitability metrics available due to the absence of revenue.
Net cash used in operating activities was $4.0 million for Q1 2026, primarily stemming from a net loss of $5.5 million, adjusted for non-cash items including depreciation and amortization of $964,000 and equity-based compensation of $443,000. Investing activities showed no cash usage, while financing activities used $654,000, mainly from payments on finance leases of $546,000 and stock issuance costs of $158,000. This resulted in a net decrease in cash and cash equivalents of $4.7 million, bringing the balance to $6.3 million at quarter-end, down from $11.0 million previously. Total assets were $22.9 million, with current assets of $7.0 million. Total liabilities were $11.8 million, including $5.0 million in current liabilities, and stockholders' equity was $11.1 million, indicating a leverage position with accumulated deficit of $544.9 million.
No specific management guidance, strategic priorities, or forward-looking statements are disclosed in the provided filing content. The document focuses on historical financial results for Q1 2026 without commentary on future expectations, risks, or operational plans. Investors should note the company's pre-revenue status and reliance on cash reserves to fund ongoing R&D activities, as indicated by the decrease in cash position during the quarter.