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Cleveland BioLabs reported its financial report for the second quarter of 2017.
Cleveland BioLabs (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 (“MPT”), 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 (“FDA“) and a Marketing Authorization Application with the European Medicines Agency (“EMA“) 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 Company’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
