First Berlin reiterates Buy on CEL-SCI, cuts price target to USD 15

First Berlin reiterated a Buy rating on CEL-SCI but lowered its 12-month price target to USD 15 from USD 60. The firm highlighted a May partnership with Amarox for Multikine registration in Saudi Arabia and noted an upcoming FDA confirmatory study. Despite recent financings totaling USD 9.7 million, First Berlin indicated that additional funding is still required for the study.

First Berlin reiterated a Buy on CEL-SCI, cut its 12-month target price to USD 15 from USD 60. * Report flagged a May 11 partnership with Saudi drugmaker Amarox to pursue Multikine registration and commercialization in Saudi Arabia, with optional GCC expansion. * Terms include Amarox leading SFDA regulatory work, a ⁵⁰⁄₅₀ net revenue split, CEL-SCI retaining IP and global rights. * Analyst highlighted a 212-patient FDA confirmatory registration study, with enrollment expected to start soon in a defined head and neck cancer subgroup. * First Berlin cited May and June financings totaling about USD 9.7 million, noting most funding for the study still needs to be raised. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CEL-SCI Corporation published the original content used to generate this news brief via EQS News (Ref. ID: rc_26222) on July 20, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)

First Berlin reiterated a Buy on CEL-SCI, cut its 12-month target price to USD 15 from USD 60. * Report flagged a May 11 partnership with Saudi drugmaker Amarox to pursue Multikine registration and commercialization in Saudi Arabia, with optional GCC expansion. * Terms include Amarox leading SFDA regulatory work, a ⁵⁰⁄₅₀ net revenue split, CEL-SCI retaining IP and global rights. * Analyst highlighted a 212-patient FDA confirmatory registration study, with enrollment expected to start soon in a defined head and neck cancer subgroup. * First Berlin cited May and June financings totaling about USD 9.7 million, noting most funding for the study still needs to be raised. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CEL-SCI Corporation published the original content used to generate this news brief via EQS News (Ref. ID: rc_26222) on July 20, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)