CEL-SCI Corp.'s (CVM: Quote) net loss available to common shareholders for the fiscal year 2012 was $17.6 million, or $0.07 per share, versus a loss of $26.8 million, or $0.13 per share for the fiscal 2011 year.
The change in net loss available to common shareholders in fiscal year 2012 was primarily due to a $12 million one-time expense for the settlement of a lawsuit from 2011. Subsequent to the end of its fiscal year, CEL-SCI completed a Registered Direct Offering, where it sold its common stock and warrants, raising gross proceeds of $10.5 million.
The company reported an operating loss of $17.24 million in fiscal year 2012 versus an operating loss of $17.99 million in fiscal year 2011.
The operating loss included research and development expenses of $10.4 million in fiscal 2012 compared to $11.7 million in fiscal 2011. The operating loss also included the general and administrative expenses of $6.6 million in fiscal 2012 compared to $6.7 million in fiscal 2011.
by RTT Staff Writer
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