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J. SUBSEQUENT EVENTS
6 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
J. SUBSEQUENT EVENTS

On April 3, 2018, the exercise price of the Company’s outstanding Series S warrants, which are publicly traded under the symbol “CVM WS” on the NYSE American, was changed to $1.75 per share for a two month period which will end on June 11, 2018. The exercise price had previously been changed to $3.00 for a three month temporary period ending on April 12, 2018. After June 11, 2018, the exercise price will revert back to $31.25 per share of common stock. Twenty-five (25) Series S warrants are required to purchase one share of common stock. The Series S warrants expire on October 11, 2018.

 

Closing arguments in the arbitration against the former clinical research organization (CRO) for our Phase 3 trial concluded on April 25, 2018. The parties are now awaiting a decision from the arbitrator.