Business Update

Biotech firm releases letter to shareholders

Published in Biotech Business Week, August 9th, 2004

The following letter was released by Cel-Sci Corp. (CVM) to its shareholders:

[helv]Dear fellow shareholders:

There are times in the stock market when the baby gets thrown out with the bath water. Somehow we seem to have stumbled into one of those times. It appears that momentum investors have decided to leave the small cap and the biotech sectors and, as a result, almost every biotech company I know has seen a significant drop in its valuation, ours included.

I can understand corrections of stock prices following bad results, but I have never understood the rapid and massive group movements of biotech stocks for no apparent...

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Source: Biotech Business Week (2004-08-09)

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