CEL SCI CORP (CVM) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 15, 2026

Risk Assessment Details

Potential Dilution: 617.63% of current shares
Recent Dilution: 79.37% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
8.1M
Potential Supply
50M
Additional shares possible
Splits
None
Past 2 years

Summary

CVM currently has 8.08M outstanding shares. with significant dilution risk as 49.9M authorized shares could dilute existing holders by 617.6%. The company has significantly diluted shareholders by 79.37% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 15, 2026

10-Q filing | 8.1M shares outstanding

8.1M 50M
May 13, 2026

8-K filing: CEL-SCI Corporation completed an offering of 6,000,000 shares of common stock at $1.20 per share, raising gross proceeds of $7,200,000. ($7.2M proceeds)

8.5M 49M
Apr 17, 2026

S-1 filing: This S-1 filing includes the registration of common stock and pre-funded warrants.

8.5M 56M
Nov 07, 2025

S-3 filing: This prospectus relates to the possible resale of up to 375,000 shares of our common stock, which were issued in payment for services in connection with our confirmatory Phase III clinical trial.

8M 50M
Aug 29, 2025

8-K filing: CEL-SCI Corporation completed an offering of 1,111,200 shares of common stock at $9.00 per share on August 29, 2025, raising gross proceeds of approximately $10,000,800. ($10.0M proceeds)

6.9M 51M
Aug 14, 2025

10-Q filing | 6.9M shares outstanding

6.9M 51M
Jul 14, 2025

8-K filing: CEL-SCI Corporation completed an offering of 1,500,000 shares of common stock at $3.82 per share, resulting in gross proceeds of approximately $5,730,000 before deducting fees and expenses. ($5.73M proceeds)

91M 0
Jul 03, 2025

S-3 filing: CEL-SCI Corporation may offer shares of common stock, preferred stock, convertible preferred stock, rights, warrants, units consisting of one or more of these securities, as well as any of these securities issuable upon conversion of preferred stock or upon the exercise of warrants, at an initial offering price not to exceed $100,000,000.

91M 0
May 23, 2025

8-K filing: CEL-SCI Corporation completed an offering of 2,000,000 shares of common stock at a price of $2.50 per share on May 23, 2025, resulting in gross proceeds of $5,000,000 before deducting underwriting discounts and offering expenses. ($5.0M proceeds)

91M 0
May 14, 2025

10-Q filing | 91.0M shares outstanding

91M 0
Mar 18, 2025

8-K filing: CEL-SCI Corporation completed an offering on March 18, 2025, issuing 4,012,500 shares of common stock at $0.16 per share and pre-funded warrants to purchase up to 11,987,500 shares at $0.1599 per warrant, resulting in gross proceeds of $2,560,000. ($2.56M proceeds)

74M 0
Feb 14, 2025

10-Q filing | 74.1M shares outstanding

74M 0
Jan 13, 2025

10-K filing | 63.8M shares outstanding

64M 0
Dec 31, 2024

8-K filing: CEL-SCI Corporation completed an offering of 7,552,500 shares of common stock and pre-funded warrants to purchase up to 8,577,500 shares at $0.31 and $0.3099 respectively, with gross proceeds of approximately $5,000,000. ($5.0M proceeds)

64M 0
Oct 30, 2024

S-3/A filing: This is an S-3/A filing dated 2024-10-30. It discusses the offer, sale, and issuance of shares that are exempt from the Securities Act of 1933.

64M 0
Oct 25, 2024

S-3 filing: This is an S-3 filing for the resale of 1,000,000 shares of common stock by a selling shareholder.

64M 0
Oct 11, 2024

POS AM filing: CEL-SCI Corporation may offer from time to time shares of common stock, preferred stock, convertible preferred stock, rights, warrants, units consisting of one or more of these securities, as well as any of these securities issuable upon conversion of preferred stock or upon the exercise of warrants at an initial offering price not to exceed $150,000,000.

54M 2.3M
Oct 08, 2024

S-3/A filing: CEL-SCI Corporation may offer shares of common stock, preferred stock, convertible preferred stock, rights, warrants, units consisting of one or more of these securities, as well as any of these securities issuable upon conversion of preferred stock or upon the exercise of warrants, at an initial offering price not to exceed $150,000,000.

54M 2.3M
Aug 14, 2024

10-Q filing | 54.3M shares outstanding

54M 2.3M
Jul 29, 2024

8-K filing: CEL-SCI Corporation completed an offering of 3,715,000 shares of common stock at $1.00 per share and pre-funded warrants to purchase up to 7,130,000 shares at $0.99 per warrant, closing on July 29, 2024, with gross proceeds of $10,845,000. ($10.77M proceeds)

54M 2.5M
May 15, 2024

10-Q filing | 54.1M shares outstanding

54M 2.5M
Feb 14, 2024

10-Q filing | 50.0M shares outstanding

50M 6.6M
Feb 13, 2024

8-K filing: CEL-SCI Corporation closed an offering of 3,875,000 shares of common stock at a price of $2.00 per share on February 13, 2024, resulting in gross proceeds of $7,750,000 before deducting underwriting discounts and other offering expenses. ($7.75M proceeds)

43M 13M
Dec 21, 2023

10-K filing | 43.4M shares outstanding

43M 13M
Nov 20, 2023

8-K filing: CEL-SCI Corporation completed an offering of 2,490,000 shares of common stock at $2.00 per share, resulting in gross proceeds of $4,980,000 before deducting underwriting discounts and other offering expenses. ($4.98M proceeds)

45M 12M
Aug 10, 2023

10-Q filing | 44.7M shares outstanding

45M 12M
Jul 20, 2023

8-K filing: CEL-SCI Corporation closed on an underwritten public offering and issued 2,500,000 shares of common stock at a public offering price of $2.00 per share, receiving approximately $4,500,000 in net proceeds. ($4.5M proceeds)

44M 13M
Jul 18, 2023

8-K filing: CEL-SCI Corporation entered into an Underwriting Agreement to issue and sell 2,500,000 shares of common stock at $2.00 per share, expecting to receive approximately $4,500,000 in net proceeds. ($5.0M proceeds)

44M 13M
May 12, 2023

10-Q filing | 43.8M shares outstanding

44M 13M
May 01, 2023

8-K filing: CEL-SCI Corporation entered into an Underwriting Agreement to issue and sell 794,117 shares of common stock at $1.70 per share, expecting approximately $1,119,000 in net proceeds before an over-allotment option. ($1.35M proceeds)

43M 13M
Feb 14, 2023

10-Q filing | 43.4M shares outstanding

43M 13M
Dec 27, 2022

10-K filing | 43.1M shares outstanding

43M 13M
Aug 12, 2022

10-Q filing | 43.1M shares outstanding

43M 13M
Jul 01, 2022

S-3 filing: CEL-SCI Corporation may offer shares of common stock, preferred stock, convertible preferred stock, rights, warrants, or units, up to a total amount of $150,000,000.

43M 13M
Jul 01, 2022

POS AM filing: Prospectus for the resale of common stock issuable upon exercise of outstanding warrants by selling shareholders.

43M 13M
May 13, 2022

10-Q filing | 43.1M shares outstanding

43M 13M
Feb 11, 2022

10-Q filing | 43.1M shares outstanding

43M 13M
Dec 21, 2021

10-K filing | 40.7M shares outstanding

41M 16M
Aug 13, 2021

10-Q filing | 40.2M shares outstanding

40M 16M
Jun 29, 2021

8-K filing: The Company agreed to issue and sell 1,400,000 shares of common stock at a public offering price of $22.62 per share. The Underwriters exercised their over-allotment option to purchase 210,000 additional shares of common stock which closed on June 28, 2021, resulting in net proceeds of approximately $4.4 million to the Company. ($4.4M proceeds)

39M 17M
Jun 09, 2021

8-K filing: CEL-SCI Corporation entered into an Amended and Restated Underwriting Agreement to issue and sell 1,400,000 shares of common stock at $22.62 per share, with an option for underwriters to purchase an additional 210,000 shares, expecting net proceeds of approximately $29.3 million. ($31.67M proceeds)

39M 17M
May 17, 2021

10-Q filing | 39.4M shares outstanding

39M 17M
Feb 12, 2021

10-Q filing | 38.8M shares outstanding

39M 18M
Jan 15, 2021

POS AM filing: This POS AM filing relates to the offering of shares of common stock issuable upon the exercise of outstanding warrants by warrant holders, previously registered under file # 333-229295.

40M 17M
Dec 29, 2020

10-K filing | 36.8M shares outstanding

37M 20M
Dec 09, 2020

8-K filing: CEL-SCI Corporation entered into an Underwriting Agreement to issue and sell 1,000,000 shares of common stock at $14.65 per share, with an option for underwriters to purchase an additional 150,000 shares to cover over-allotments, with the offering expected to close around December 11, 2020. ($14.65M proceeds)

39M 18M
Aug 10, 2020

10-Q filing | 38.6M shares outstanding

39M 18M
Jul 02, 2020

S-1 filing: This is an S-1 filing including information on the sales of convertible notes, shares of common stock, and warrants from July 2017 to January 2020.

36M 21M
May 08, 2020

10-Q filing | 35.6M shares outstanding

36M 0
Mar 13, 2020

POS AM filing: This is a POS AM filing, detailing previous sales of common stock, warrants, and convertible notes.

35M 0
Feb 21, 2020

POS AM filing: This is a POS AM filing including information on recent sales of common stock and warrants.

35M 0
Feb 20, 2020

S-1/A filing: This is an S-1/A filing. The company has sold shares of common stock in registered direct offerings and private placements to officers and directors of the company, and to Ergomed, plc in payment for services.

35M 6.2M
Feb 10, 2020

10-Q filing | 35.1M shares outstanding

35M 0
Weekly Research

Get Weekly Super Stonk Alerts

Never miss a squeeze opportunity. Get our weekly analysis of high short interest stocks, AI-discovered gems, and dilution warnings delivered to your inbox.

No spam Unsubscribe anytime