Cleveland BioLabs Reports Financials for Q2 2017

Pharmaceutical Investing

Cleveland BioLabs reported its financial report for the second quarter of 2017.

Cleveland BioLabsĀ (NASDAQ:CBLI) reported its financial report for the second quarter of 2017.
As quoted in the press release:

Cleveland BioLabs reported a net loss of $(5.6) million, excluding minority interests, for the second quarter of 2017, or $(0.50) per share, compared to a net loss, excluding minority interests, of $(1.9) million, or $(0.17) per share, for the same period in 2016. The increase in net loss was primarily due to an increase in the non-cash adjustment to our warrant liabilities and decreased revenues and expenses due to the completion of our development contracts with the Russian Federation Ministry of Industry and Trade (ā€œMPTā€), which was partially offset by reduced operating costs aligned with our streamlined focus primarily on pursuing a pre Emergency Use Authorization with the U.S. Food and Drug Administration (ā€œFDAā€œ) and a Marketing Authorization Application with the European Medicines Agency (ā€œEMAā€œ) for entolimod as a medical radiation countermeasure.
As of June 30, 2017, the Company had $11.5 million in cash, cash equivalents and short-term investments, which, based on the Companyā€™s current operational plan, is expected to fund operations for at least one year beyond the filing date of our Form 10-Q.

Click here to read the full release.

Source: www.marketwired.com

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