Cel-sci Corporation · AMEX:CVM
Cel-sci — Investor Presentation (May 2026)
23 slides from Cel-sci's investor presentation, May 2026
Slide 1: Multikine: A First-In-Class Cancer Immunotherapy
Multikine “A First-In-Class Cancer Immunotherapy” Activating the immune system to fight cancer BEFORE the ravages of surgery, radiation and chemotherapy May 2026 NYSE American: CVM
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. Please refer to our public filings for full disclosure. This presentation contains “forward-looking statements” standards; our expectations regarding federal, state by applicable la
Slide 3: CEL-SCI's Story in Short: Strong Phase 3 Data
CEL-SCI’s Story in Short: Strong Phase 3 Data • We have developed an immune based cancer drug designed to increase the “cure” rate of cancer patients. • This drug is called Multikine (many cytokines) and is not toxic. • Multikine is designed to activate the immune system to fight cancer before surge
Slide 4: FDA Study to Enroll Starting mid-2026 for Potential Approval in 2028
FDA Study to Enroll Starting mid-2026 for Potential Approval in 2028 • We completed a 928 patient Phase 3 study in which we showed great survival benefit for patients who did not get chemotherapy, but no survival benefit when chemo was added. FDA requested a 212-patient confirmatory study for Multik
Slide 5: The Need for Innovation in Head & Neck Cancer
The Need for Innovation in Head & Neck Cancer Head & neck cancer: • 6th most common cancer • ~900,000 newly diagnosed patients per year • Global head and neck cancer market: $2.58 billion in 2024, projected to reach $7.68 billion 1 by 2034 • Severe unmet medical need • The targeted patient populatio
Slide 6: Market Opportunity: Targeting a Significant Patient Population
Market Opportunity: Targeting a Significant Patient Population Multikine is poised to address a substantial segment of the head and neck cancer market, particularly patients with low or zero PD-L1 expression who are not served by the current blockbuster immunotherapy Keytruda. This represents a sign
Slide 7: How Multikine Works
How Multikine Works N0 means intact local immune architecture can • Multikine is a mix of mount an effective immune natural cytokines that attack on the tumor prime immune cells • Administered near tumor and draining lymph nodes before surgery • Helps immune cells overcome tumor defenses • Higher ef
Slide 8: Tumor Cell Death Without And With Multikine
Tumor Cell Death Without And With Multikine Without Multikine With Multikine How the Tumor Defense How Multikine May Circumvent T cells T cells Mechanisms Can The Tumor Defense Mechanisms! Circumvent An Anti-tumor LYMPH Immune Response LYMPH NODE NODE T DC cells T Kill Tumor DC DC cells (GzmB, PFN;
Slide 9: Multikine Improved Survival in the Completed Phase 3 Study
Multikine Improved Survival in the Completed Phase 3 Study Target Population (No lymph node involvement & PD-L1 low) for Confirmatory Study • No safety signals or toxicities vs standard of care • 5-year survival: 73% (Multikine) vs. 45% (Control) Multikine • Statistically significant (log rank p = 0
Slide 10: Some Patients Have Complete Tumor Elimination in Just 3 Weeks
Some Patients Have Complete Tumor Elimination in Just 3 Weeks, Confirmed by Pathology Oral Squamous Cell Carcinoma (Locally Advanced Primary H&N Cancer) Histological appearance of necrosis in Oral Squamous Cell Carcinoma (OSCC) [HE staining]: Non-Multikine treated Multikine treated Lack of necrosis
Slide 11: Increased Pre-Surgical Tumor Responses Predict for Survival Across All Patients
Increased Pre-Surgical Tumor Responses Predict for Survival Across All Patients (n=928) in the Phase 3 Trial 11
Slide 12: Higher PSR/PSD Rates in the Target Population (n=114)
Higher PSR/PSD Rates in the Target Population (n=114) 12
Slide 13: Potential Commercialization in Saudi Arabia
Potential Commercialization in Saudi Arabia Our goal is to be a partner to the Saudi government and help them achieve their goals for Vision 2030, a comprehensive strategic framework launched in 2016 by Crown Prince Mohammed bin Salman to diversify Saudi Arabia’s economy. In addition to potentially
Slide 14: Saudi Arabia: Strategic Gateway
Saudi Arabia: Strategic Gateway • The Saudi Food and Drug Authority (SFDA): The SFDA encouraged CEL-SCI to apply for Breakthrough Medicine Designation, filed August 2025, based on our Phase 3 data. Saudi Arabia has a national healthcare system, which could lead to near-term revenues from Multikine s
Slide 15: Amarox – Strategic Partner in Saudi Arabia
Amarox – Strategic Partner in Saudi Arabia In May 2026, CEL-SCI signed a strategic partnership, distribution, and revenue sharing agreement with Amarox for regulatory affairs, marketing and potential commercialization of *Multikine • 50%/50% revenue sharing agreement for Multikine sales in Saudi Ara
Slide 16: Multikine Treatment Sequence
Multikine Treatment Sequence • Multikine is given before the standard therapies, right after diagnosis. It enhances the immune system when it is strongest. • The Phase 3 study showed survival benefit for the group of patients who were treated with surgery and radiotherapy, but not for those who also
Slide 17: Our Registration Study Design
Our Registration Study Design Stage 1: Treatment Period Stage 2: Follow-up period Treatment Arm Multikine treatment first then standard of care n=106 Assess overall survival as the primary Randomized 1:1 between the efficacy endpoint, and then treatment arm and the control arm histopathology biomark
Slide 18: Manufacturing Readiness: Prepared for Global Supply
Manufacturing Readiness: Prepared for Global Supply An investment of over $200 million has been made into Multikine manufacturing, ensuring that Multikine can be produced at scale to meet anticipated global demand upon potential approval. +$200 M Decades Barrier to competition – Process of manufactu
Slide 19: We Believe This Subgroup Analysis is Predictive of the Next Study
We Believe This Subgroup Analysis is Predictive of the Next Study There is a well-established literature for evaluating the credibility of subgroup analyses. The ten criteria proposed by Sun et al (2012) to assess whether or not a subgroup analysis is reliable are separately assessed 1 in support of
Slide 20: Top-Tier Physician Consultants
Top-Tier Physician Consultants Barbara Burtness, MD Marshall Posner, MD • Anthony N. Brady Professor of Medicine (Medical Oncology) at • Consultant for CEL-SCI since 2005 Yale School of Medicine • Principal Investigator and Chair of the IDMC in CEL- • Chief Translational Research Officer, Yale Cance
Slide 21: Cap Table
Cap Table • 14,977,144 shares outstanding • 36,421 warrants (WAEP: $94.76) • 709,774 options (WAEP: $152.07) • In May 2026 Geert Kersten, CEO of CEL-SCI, purchased 400,000 restricted shares of CEL-SCI common stock for about $480,000. This follows his earlier purchases of $450,000 worth of restricted
Slide 22: Investment Highlights
Investment Highlights • Strong Phase 3 Survival Benefit: Multikine demonstrated a 73% five-year survival rate in the target head & neck cancer population versus 45% with standard of care, with a hazard ratio of 0.35 (95% CIs [0.19, 0.66]). Patients also showed meaningful tumor shrinkage, and some ha
Slide 23: Thank you!
Thank you! NYSE American: CVM