Harry B. asks:
Cel-Sci (CVM_) issued a new statement where it claimed it had recruited 117 patients in its international phase III study and a new CRO [contract research organization] which will contribute $10 million to the study. I would like to know if you could publish your feelings as I highly consider your advices.
Cel-Sci's update this week on the Multikine head-and-neck cancer study resorted to some serious spin to deflect from the horrible reality that the company and its study are running off the rails.
Let's do some easy math. The Multikine phase III study began in December 2010, so in 28 months, the company has managed to enroll 117 patients, or 4.2 patients per month.
Cel-Sci designed the study to enroll 880 patients, so that means the study is still 763 patients short. If the current rate of patient recruitment continues, it will take Cel-Sci 182 months to reach full enrollment. That's 15 years.
But let's be optimistic and assume Cel-Sci, with two new CROs using that $10 million to pay off doctors and patients to try the Multikine study, triples the pace of enrollment. At this accelerated rate, Cel-Sci will reach full enrollment in five years.
Of course, Cel-Sci doesn't have enough cash to keep the lights on for 15 years or even five years, which explains this week's spin job. We've seen the movie play out before and it never ends well. There is no interest in Multikine as a treatment for head-and-neck cancer, forcing Cel-Sci to find (buy) patients in remote corners of the globe. At some point, Cel-Sci will give up because recruiting 880 patients is going to be impossible. But of course, Cel-Sci won't admit defeat, the company will simply conjure up some ridiculous excuse for why patient enrollment is being curtailed. No doubt, this excuse will include claims about Multikine demonstrating remarkable healing powers. These claims will be false but Cel-Sci will soldier on because bamboozlement is what the company does best.
Adam said "Cel-Sci will soldier on because bamboozlement is what the company does best" and "We've seen the movie play out before". Vramon912 (a.k.a. dneweed) used these same phrases/words in his rants yesterday BEFORE Adam's blog today. This can only lead one to believe that 1) either Adam is plagiarizing dweeby, which would be hilarious if that's his source of information, or 2) he IS dweeby. Either way, he's clearly a loser.
He has to right articles like this. You will notice whenever CVM gains attention, he will pretend someone asks him a question, and write a negative article. That's all there is to it, just ignore it.
It doesn't matter what he says he clearly doesn't like the company so everything he writes he puts a negative spin on it ( kind of like Faux news). He has been very wrong with other biotechs that have been approved in the past. Its his opinion and not worth the paper it's printed on.
The SICK THING about this is this type of activity should be illegal...seriously...yesterday, they put out an article pumping it saying that it's very, very bullish with the news they receive and today, they put out pure opinions in the press saying it's a piece of #$%$. And, they are doing so in a manner so they can buy low sell high, repeat process....incredible this is legal.
Not to worry Geert and Garza with respond to Adam soon. NO material info will be offered but
Garza will ask a leading question and Geert will wink and smile like always and then infer something that won't happen. Just like always.
Two questions Geert needs to answer:
1. When will the trial be completed
2. When will the manufacturing facility be completed