On February 9, 2017 CEL-SCI Corporation (NYSE MKT: CVM) reported financial results for the quarter ended December 31, 2016 (Press release, Cel-Sci, FEB 9, 2017, View Source [SID1234517686]).

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CEL-SCI reported the net income available to common shareholders for the quarter ended December 31, 2016 was $3,536,802 or $0.02 per basic share, versus $2,341,813 or $0.02 per basic share during the quarter ended December 31, 2015. CEL-SCI reported an operating loss of ($5,414,607) for the quarter ended December 31, 2016 versus an operating loss of ($5,783,132) for the quarter ended December 31, 2015.

CEL-SCI’s net income for the quarter ending December 31, 2016 and 2015 was largely attributable to the gain on derivative instruments of approximately $8.9 million and $8.1 million, respectively, which was the result of the change in fair value of the derivative liabilities during the quarter. This change was caused by decreases in the share price of CEL-SCI’s common stock.