2024 Q3 Form 10-Q Financial Statement

#000165495424010651 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.967M
YoY Change -19.84%
% of Gross Profit
Research & Development $4.703M
YoY Change -17.89%
% of Gross Profit
Depreciation & Amortization $984.2K
YoY Change -0.15%
% of Gross Profit
Operating Expenses $6.670M
YoY Change -18.47%
Operating Profit -$6.670M
YoY Change -18.47%
Interest Expense -$190.7K
YoY Change 4.97%
% of Operating Profit
Other Income/Expense, Net $4.380K
YoY Change -213.77%
Pretax Income -$6.857M
YoY Change -18.06%
Income Tax
% Of Pretax Income
Net Earnings -$6.857M
YoY Change -18.06%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.14
COMMON SHARES
Basic Shares Outstanding 61.49M shares 54.16M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $435.8K
YoY Change -91.55%
Cash & Equivalents $384.7K
Short-Term Investments $51.13K
Other Short-Term Assets $551.3K
YoY Change 19.12%
Inventory $2.555M
Prepaid Expenses $551.3K
Receivables
Other Receivables
Total Short-Term Assets $3.542M
YoY Change -54.18%
LONG-TERM ASSETS
Property, Plant & Equipment $8.613M
YoY Change -19.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.391M
YoY Change -0.37%
Total Long-Term Assets $20.53M
YoY Change -16.52%
TOTAL ASSETS
Total Short-Term Assets $3.542M
Total Long-Term Assets $20.53M
Total Assets $24.07M
YoY Change -25.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.369M
YoY Change -21.42%
Accrued Expenses $1.272M
YoY Change 11.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.949M
YoY Change 13.46%
Total Short-Term Liabilities $5.506M
YoY Change 4.04%
LONG-TERM LIABILITIES
Long-Term Debt $8.478M
YoY Change -18.54%
Other Long-Term Liabilities $125.0K
YoY Change 0.0%
Total Long-Term Liabilities $125.0K
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.506M
Total Long-Term Liabilities $125.0K
Total Liabilities $15.60M
YoY Change -11.03%
SHAREHOLDERS EQUITY
Retained Earnings -$507.9M
YoY Change 5.93%
Common Stock $542.6K
YoY Change 21.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.473M
YoY Change
Total Liabilities & Shareholders Equity $24.07M
YoY Change -25.53%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$6.857M
YoY Change -18.06%
Depreciation, Depletion And Amortization $984.2K
YoY Change -0.15%
Cash From Operating Activities -$4.579M
YoY Change -19.19%
INVESTING ACTIVITIES
Capital Expenditures $23.47K
YoY Change -88.08%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$23.47K
YoY Change -88.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -322.3K
YoY Change -133.87%
NET CHANGE
Cash From Operating Activities -4.579M
Cash From Investing Activities -23.47K
Cash From Financing Activities -322.3K
Net Change In Cash -4.925M
YoY Change 0.27%
FREE CASH FLOW
Cash From Operating Activities -$4.579M
Capital Expenditures $23.47K
Free Cash Flow -$4.602M
YoY Change -21.5%

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CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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ResearchAndDevelopmentExpense
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GeneralAndAdministrativeExpense
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GeneralAndAdministrativeExpense
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OperatingExpenses
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OperatingExpenses
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CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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OperatingIncomeLoss
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InterestIncomeExpenseNet
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InterestIncomeExpenseNet
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CY2024Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
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CY2023Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 cvm Modification Of Warrants
ModificationOfWarrants
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CY2023Q2 cvm Modification Of Warrants
ModificationOfWarrants
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CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2024Q2 cvm Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
-0.14
CY2023Q2 cvm Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
-0.19
CY2024Q2 cvm Weighted Average Number Of Common Shares Outstanding Basic And Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
53994384 shares
CY2023Q2 cvm Weighted Average Number Of Common Shares Outstanding Basic And Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
44254363 shares
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q4 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
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CY2023Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2023Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2023Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2023Q4 cvm Share Issuance Costs
ShareIssuanceCosts
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CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
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CY2024Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2024Q1 cvm Share Issuance Costs
ShareIssuanceCosts
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CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
60577 usd
CY2024Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2024Q2 cvm Purchase Of Stock By Officers And Directors Amount
PurchaseOfStockByOfficersAndDirectorsAmount
80620 usd
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
728120 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
8473057 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
32163207 usd
CY2022Q4 cvm Warrant Exercises Amount
WarrantExercisesAmount
447291 usd
CY2022Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1703931 usd
CY2022Q4 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
50178 usd
CY2022Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
91623 usd
CY2022Q4 cvm Incentive Stock Forfeited Amount
IncentiveStockForfeitedAmount
-11100 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-7853509 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
26591621 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1743288 usd
CY2023Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
54865 usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
20147600 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1551319 usd
CY2023Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
52663 usd
CY2023Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
135669 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1552497 usd
CY2023Q2 cvm Incentive Stock Forfeited Amount
IncentiveStockForfeitedAmount
-11100 usd
CY2023Q2 cvm Share Issuance Costs
ShareIssuanceCosts
-271968 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-8367281 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
14789399 usd
us-gaap Profit Loss
ProfitLoss
20810973 usd
us-gaap Profit Loss
ProfitLoss
24563599 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2977603 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2959681 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
5008 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
12788 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
778571 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
473723 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3544569 usd
us-gaap Share Based Compensation
ShareBasedCompensation
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cvm Common Stock Contributed To Employee Benefit Plan
CommonStockContributedToEmployeeBenefitPlan
162969 usd
cvm Common Stock Contributed To Employee Benefit Plan
CommonStockContributedToEmployeeBenefitPlan
157706 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
15708 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-208419 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
304097 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
24491 usd
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-46884 usd
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-2342951 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-592370 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
66616 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
167568 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
243800 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
139243 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
28173 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13994502 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17803797 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
75122 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
361892 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
13211 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-88333 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-361892 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12730000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1552497 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1173577 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
213796 usd
us-gaap Increase Decrease Due From Officers And Stockholders
IncreaseDecreaseDueFromOfficersAndStockholders
-80620 usd
us-gaap Increase Decrease Due From Officers And Stockholders
IncreaseDecreaseDueFromOfficersAndStockholders
0 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
447291 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
1315291 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
1157371 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10321752 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
628621 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3761083 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-17537068 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4145735 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22672138 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
384652 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5135070 usd
cvm Assets Purchased Under Finance Leases
AssetsPurchasedUnderFinanceLeases
20797 usd
cvm Assets Purchased Under Finance Leases
AssetsPurchasedUnderFinanceLeases
0 usd
cvm Finance Lease Obligation Included In Accounts Payable
FinanceLeaseObligationIncludedInAccountsPayable
1296 usd
cvm Finance Lease Obligation Included In Accounts Payable
FinanceLeaseObligationIncludedInAccountsPayable
927 usd
cvm Property And Equipment Purchases Included In Current Liabilities
PropertyAndEquipmentPurchasesIncludedInCurrentLiabilities
2770 usd
cvm Property And Equipment Purchases Included In Current Liabilities
PropertyAndEquipmentPurchasesIncludedInCurrentLiabilities
0 usd
cvm Consulting Services Paid With Issuance Of Common Stock
ConsultingServicesPaidWithIssuanceOfCommonStock
738832 usd
cvm Consulting Services Paid With Issuance Of Common Stock
ConsultingServicesPaidWithIssuanceOfCommonStock
327927 usd
cvm Accrued Consulting Services To Be Paid With Common Stock
AccruedConsultingServicesToBePaidWithCommonStock
110000 usd
cvm Accrued Consulting Services To Be Paid With Common Stock
AccruedConsultingServicesToBePaidWithCommonStock
110000 usd
cvm Financing Costs Included In Current Liabilities
FinancingCostsIncludedInCurrentLiabilities
91975 usd
cvm Financing Costs Included In Current Liabilities
FinancingCostsIncludedInCurrentLiabilities
58172 usd
us-gaap Interest Paid Net
InterestPaidNet
706517 usd
us-gaap Interest Paid Net
InterestPaidNet
809495 usd
cvm Impairment Of Long Lived Assets Policy Textblock
ImpairmentOfLongLivedAssetsPolicyTextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.25in; text-align:justify;"><em>Impairment of long-lived assets</em> – CEL-SCI’s fixed assets are made up of leasehold improvements, furniture, and equipment. ASC 360-10 requires that a long-lived asset group be reviewed for impairment only when events or changes in circumstances indicate that the carrying amount of the long-lived asset (group) might not be recoverable. CEL-SCI’s recurring losses are a triggering event that could indicate impairment of long-lived assets such as fixed assets. CEL-SCI reviews these assets to determine if events or changes in circumstances indicate the existence of impairment. If indicators of impairment exist, the Company tests for recoverability, then, if necessary, measures and records the impairment. The amount of the impairment loss would be the amount by which the carrying amount of the asset (group) exceeds its fair value.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0.25in; text-align:justify;"><em>Use of Estimates</em> – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying disclosures.  These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, inventory obsolescence, accruals, stock options, useful lives for depreciation and amortization of long-lived assets, right of use assets and lease liabilities, deferred tax assets and the related valuation allowance. Actual results could differ from estimates, although management does not generally believe such differences would materially affect the financial statements in any given year.  Additionally, in calculating the right of use assets and lease liabilities, estimates and assumptions were used to determine the incremental borrowing rates and the expected lease terms.  The Company considers the estimates used in valuing the stock options and the lease assets and liabilities to be significant. </p>
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3875000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
179832 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
58787 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2000 shares
cvm Stock Option Plan
StockOptionPlan
234332 usd
CY2024Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
101000 usd
CY2023Q4 cvm Annual Increase To Interest Payments
AnnualIncreaseToInterestPayments
0.03 pure
CY2024Q2 cvm Annual Increase To Interest Payments
AnnualIncreaseToInterestPayments
0.0846 pure
CY2024Q2 cvm Operating Lease Weighted Average Remaining Lease Term One
OperatingLeaseWeightedAverageRemainingLeaseTermOne
P4Y4M2D
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
666000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
300000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2345000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
8000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
22000 usd
CY2023Q2 cvm Weighted Average Number Of Share Outstanding Basics And Diluted
WeightedAverageNumberOfShareOutstandingBasicsAndDiluted
44254363 shares

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