Cel-Sci Corporation (NYSE AMEX: CVM)with headquarters in Vienna, Va.,posted a net loss for Q2 2011, nearly six times deeper than in the second quarter of 2010.
Losses were $3.11 Million in the three-months quarter ended June 30, 2011 compared to $601,124 in 2010.
Revenue in the second quarter came entirely from grants and totaled a small sum of $77,403.
The company's expenses grew to $4.85 Million from $3.4 Million.
Cel-Sci is currently in the Phase III clinical-trial of its head and neck cancer drug called Multikine. The company has partnered with Teva Pharmaceutical Industries of Israel to develop the drug. Cel-Sci also has a manufacturing/R&D facility in the city of Baltimore.
Geert Kersten, Chief Executive Officer stated, "Our Phase III clinical trial for head and neck cancer is proceeding well. So far, we have 22 centers that are enrolled in the study in eight countries. The centers are actively screening/enrolling patients. We have produced two clinical lots of Multikine® from which patients are being treated."