Financials

v3.2.0.727
Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 3,190,121 $ 3,103,969
Short-term investments 450,256  
Accounts receivable 133,476 267,199
Receivable for divestiture of Incuron, LLC 1,000,000  
Other current assets 215,699 174,179
Total current assets 4,989,552 3,545,347
Equipment, net 182,957 244,537
Restricted cash 859,088 1,699,759
Other long-term assets 41,650 56,131
Deferred Transaction Costs 775,037  
Investment in Incuron, LLC   4,268,458
Total assets 6,848,284 9,814,232
Current liabilities:    
Accounts payable 950,431 1,057,743
Accrued expenses 2,025,702 1,804,456
Deferred revenue 466,590 156,317
Accrued warrant liability 5,356,391 862,074
Current portion of notes payable 2,836,723 2,640,968
Current portion of capital lease obligation   7,522
Total current liabilities 11,635,837 6,529,080
Long-term debt $ 1,135,769 $ 1,499,050
Commitments and contingencies    
Total liabilities $ 12,771,606 $ 8,028,130
Stockholders' equity:    
Preferred stock, $.005 par value; 10,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2015 and 2014, respectively    
Common stock, $.005 par value; 160,000,000 shares authorized, 4,269,175 and 2,858,126 shares issued and outstanding as of June 30, 2015 and 2014, respectively $ 21,342 $ 14,287
Additional paid-in capital 134,042,180 132,693,988
Other comprehensive loss (425,459) (380,110)
Accumulated deficit (142,706,512) (133,935,562)
Treasury Stock, at cost; 264,318 and 0 shares, respectively (906,321)  
Total Cleveland BioLabs, Inc. stockholders' deficit (9,974,770) (1,607,397)
Noncontrolling interest in stockholders' equity 4,051,448 3,393,499
Total stockholders' equity (5,923,322) 1,786,102
Total liabilities and stockholders' equity $ 6,848,284 $ 9,814,232
v3.2.0.727
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Grants and contracts $ 329,908 $ 562,087 $ 937,237 $ 1,896,341
Operating expenses:        
Research and development 1,583,169 2,324,223 3,194,139 4,763,996
General and administrative 1,597,556 2,250,368 3,905,427 4,663,911
Total operating expenses 3,180,725 4,574,591 7,099,566 9,427,907
Loss from operations (2,850,817) (4,012,504) (6,162,329) (7,531,566)
Other income (expense):        
Interest and other expense (81,416) (623,786) (127,810) (941,708)
Foreign exchange gain (loss) 65,058 92,594 21,323 (59,177)
Change in value of warrant liability (1,480,048) 412,125 (1,529,406) 2,499,683
Equity in loss of Incuron, LLC (114,571)   (362,137)  
Total other income (expense) (1,610,977) (119,067) (1,998,030) 1,498,798
Net loss (4,461,794) (4,131,571) (8,160,359) (6,032,768)
Net loss attributable to noncontrolling interests 17,141 170,410 65,384 486,235
Net loss attributable to Cleveland BioLabs, Inc. $ (4,444,653) $ (3,961,161) $ (8,094,975) $ (5,546,533)
Net loss per share, basic and diluted $ (1.12) $ (1.53) $ (2.25) $ (2.18)
Weighted average number of shares, basic and diluted 3,979,783 2,594,582 3,595,153 2,546,760
v3.2.0.727
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (8,160,359) $ (6,032,768)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 126,498 686,471
Loss on equipment disposal   24,685
Noncash compensation 40,506 182,617
Warrant issuance costs 617,776 171,116
Equity in loss of Incuron, LLC 362,137  
Change in value of warrant liability 1,529,406 (2,499,683)
Changes in operating assets and liabilities:    
Accounts receivable and other current assets 96,807 (56,302)
Other long-term assets 8,544 15,879
Accounts payable and accrued expenses (104,909) (47,251)
Deferred revenue 510,743 (170,766)
Net cash used in operating activities (4,972,851) (7,726,002)
Cash flows from investing activities:    
Purchase of short-term investments (784,110)  
Sale of short-term investments 348,452 285,881
Purchase of equipment (13,288) (10,803)
Divestiture of Incuron 2,000,000  
Decrease in restricted cash 834,989  
Net cash provided by investing activities 2,386,043 275,078
Cash flows from financing activities:    
Issuance of common stock, net of offering costs 3,048,934 9,697,501
Repayment of long-term debt and capital leases (375,972) (4,040,329)
Noncontrolling interest capital contribution to Incuron, LLC   2,915,239
Net cash provided by financing activities 2,672,962 8,572,411
Effect of exchange rate change on cash and equivalents (2) (66,357)
Increase in cash and cash equivalents 86,152 1,055,130
Cash and cash equivalents at beginning of period 3,103,969 10,048,466
Cash and cash equivalents at end of period 3,190,121 11,103,596
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest $ 91,614 360,642
Supplemental schedule of noncash financing activities:    
Noncash financing costs on common stock offering   50,505
Noncash warrant issuance costs   $ 15,993
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