N EWS RELEASE 8229 Boone Boulevard, Suite 802 Vienna, VA 22182. USA Telephone (703) 506-9460 www.cel-sci.com COMPANY CONTACT: Gavin de Windt CEL-SCI Corporation (703) 506-9460 CEL-SCI ANNOUNCES BOUGHT DEAL OFFERING Vienn

CEL-SCI ANNOUNCES BOUGHT DEAL OFFERING

Vienna, VA, December 8, 2020 -- CEL-SCI Corporation

(NYSE American: CVM), a

Phase 3 cancer immunotherapy company, today announced that it has

entered into an underwriting agreement with Kingswood Capital

Markets, division of Benchmark Investments, Inc. and Aegis Capital

Corp. under which the underwriters have agreed to purchase on a

firm commitment basis a minimum of 1,000,000 shares of common stock

of the Company, at a price to the public of $14.65 per share (the

Public Price ), representing a 5% discount to the

Company's December 8, 2020 closing share price. The closing

of the offering is expected to occur on or about December 11, 2020,

subject to customary closing conditions.

Capital Markets, division of Benchmark Investments, Inc. and Aegis

Capital Corp. are acting as the joint book-running managers for the

Company also has granted to the underwriters a 30-day option to

purchase up to 15% of the offering at the Public Price. The use of

proceeds will be to fund the continued development of Multikine*

and LEAPS, the expansion of the Company's manufacturing

facility and for other general corporate purposes.

shares of common stock described above are being offered by CEL-SCI

pursuant to a "shelf" registration statement on Form S-3 (File No.

333-226558) filed with the Securities and Exchange Commission (SEC)

and the accompanying prospectus contained therein. The offering of

the shares of common stock is being made only by means of a

prospectus, including a prospectus supplement, forming a part of

the effective registration statement. A preliminary prospectus

supplement and the accompanying prospectus relating to and

describing the terms of the offering has been filed with the SEC.

Copies of the preliminary prospectus supplement and the

accompanying prospectus relating to this offering may be obtained

on the SEC's website at http://www.sec.gov

or by contacting Kingswood Capital Markets, Attention: Syndicate

Desk, 17 Battery Place, Suite 625, New York, NY 10004, by email

at syndicate@kingswoodcm.com,

or by telephone at (212) 404-7002.

press release shall not constitute an offer to sell or the

solicitation of an offer to buy any of the securities described

herein, nor shall there be any sale of these securities in any

state or jurisdiction in which such offer, solicitation or sale

would be unlawful prior to registration or qualification under the

securities laws of any such state or jurisdiction.

About CEL-SCI Corporation

CEL-SCI is a clinical-stage biotechnology company focused on

finding the best way to activate the immune system to fight cancer

and infectious diseases. The Company's lead investigational

therapy Multikine is currently in a pivotal Phase 3 clinical trial

involving head and neck cancer, for which the Company has received

Orphan Drug Status from the FDA. The Company has operations

in Vienna, Virginia, and near Baltimore, Maryland.

Forward-Looking Statements

press release contains forward-looking statements within the

meaning of Section 27A of the Securities Act of 1933, as amended,

and Section 21E of the Securities Exchange Act of 1934, as amended.

When used in this press release, the words "intends," "believes,"

"anticipated," "plans" and "expects," and similar expressions, are

intended to identify forward-looking statements. Such statements

are subject to risks and uncertainties that could cause actual

results to differ materially from those projected, including the

risk that the offering is subject to market and other conditions

and there can be no assurance as to whether or when the offering

may be completed or as to the actual size or terms of the offering.

Factors that could cause or contribute to such differences include,

an inability to duplicate the clinical results demonstrated in

clinical studies, timely development of any potential products that

can be shown to be safe and effective, receiving necessary

regulatory approvals, difficulties in manufacturing any of the

Company's potential products, inability to raise the necessary

capital and the risk factors set forth from time to time in

CEL-SCI's filings with the Securities and Exchange

Commission, including but not limited to its amended report on Form

10-K/A for the year ended September 30, 2019. The Company

undertakes no obligation to publicly release the result of any

revision to these forward-looking statements which may be made to

reflect the events or circumstances after the date hereof or to

reflect the occurrence of unanticipated events.

* Multikine (Leukocyte Interleukin, Injection) is the trademark

that CEL-SCI has registered for this investigational therapy, and

this proprietary name is subject to FDA review in connection with

the Company's future anticipated regulatory submission for

approval. Multikine has not been licensed or approved for sale,

barter or exchange by the FDA or any other regulatory agency.

Similarly, its safety or efficacy has not been established for any

use. Moreover, no definitive conclusions can be drawn from the

early-phase, clinical-trials data involving the investigational

therapy Multikine. Further research is required, and early-phase

clinical trial results must be confirmed in the Phase 3 clinical

trial of this investigational therapy that is in