"Finally!" At least that's what long time investors of Cel-Sci Corp were saying during the last week of 2010 when it was announced that the long-awaited Phase III head and neck cancer trial for Multikine had finally commenced.
Titled "IT MATTERS" (ImmunoTherapy Multikine Anti Tumor Treatments), the trial is expected to be enrolling patients at all 48 clinical sites within just a few months, according to Mr. Eyal Talor, Cel-Sci's Chief Scientific Officer.
As has been mentioned on numerous occassions, this trial is expected to be the largest ever conducted for a head and neck cancer treatment and will span three continents and nine countries.
Although announcements of a trial commencement do not give indications of success, rather it's an indication of progress, this trial - that for years has been more of a tease than Jenny McCarthy on 'Singled Out' - is significant in the fact that Multikine is being tested as a first line treatment. Additionally, Multikine could usher in the new wave of cancer vaccines since Cel-Sci will not need cells from the patient in order to produce the treatment, unlike other cancer vaccines such as Dendreon's Provenge that need a patient sampling before producing the vaccine in the laboratory.
Cel-Sci has methodically prepared for the launch of this trial for years, including the dedication of all available resources and assets to a top-line Multikine production facility near Baltimore, Maryland that also offers the company the possibility of revenue streams from contracting and leasing agreements. The true - and only relevant potential, at least for the time being - is Multikine.
The trial completion date is still far off in the future, the potential significance of this product as a first line treatment for head and neck cancer should keep CVM at or near the top of the 'Possible Next Dendreon' list.
Cel-Sci also has LEAPS in its back pocket, but unless another opportune situation arises - like an H1N1 epidemic - all resources will most likely be geared towards bringing Multikine to market.
The CVM share price, after receiving an initial spike on the news, has traded relatively flat on the Phase III start announcement.
Disclosure: Long CVM.
Posted earlier at VFC's NEW Stock House.