Investor Relations (IR) Questions: Cleveland BioLabs CBLI
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Answers received: March 2013
1) When is the last time CBLI raised cash through an offering (diluted)?
Our last equity raise was in October 2012, yielding $17M in gross proceeds.
2) How much cash (not cash equivalents) does CBLI have?
Cash & equivalents & ST investments is broken down in the attached: $28.3M consolidated (including subs.), $18M CBLI standalone.
3) What and approximately when is the next known catalyst?
Next catalyst is recognized as potential award of BARDA development contract to fund remaining steps for our lead radiation countermeasure Entolimod to BLA (it is in pivotal stage under animal Rule) – response to proposal anticipated 2Q12.
4) What is CBLI's quarterly cash burn?
Consolidated net burn is about $2.3M/month for 2013. Net cash burn for CBLI standalone has been guided to $1.1-$1.2M/month pre-any BARDA contract. Post BARDA contract, it is less.
5) Does CBLI have an existing line of credit and if so how much can they draw against it?
As of December 31, 2012, CBLI had a working capital line of credit that was fully secured by cash equivalents and short-term investments. The working capital line of credit carried an interest rate equal to the prime rate, had a borrowing limit of $600,000 and has since been closed. At December 31, 2012 and 2011, there were no outstanding borrowings under this credit facility.
See below to download the CBLI 4q-2012 conference call transcript
1) When is the last time CBLI raised cash through an offering (diluted)?
Our last equity raise was in October 2012, yielding $17M in gross proceeds.
2) How much cash (not cash equivalents) does CBLI have?
Cash & equivalents & ST investments is broken down in the attached: $28.3M consolidated (including subs.), $18M CBLI standalone.
3) What and approximately when is the next known catalyst?
Next catalyst is recognized as potential award of BARDA development contract to fund remaining steps for our lead radiation countermeasure Entolimod to BLA (it is in pivotal stage under animal Rule) – response to proposal anticipated 2Q12.
4) What is CBLI's quarterly cash burn?
Consolidated net burn is about $2.3M/month for 2013. Net cash burn for CBLI standalone has been guided to $1.1-$1.2M/month pre-any BARDA contract. Post BARDA contract, it is less.
5) Does CBLI have an existing line of credit and if so how much can they draw against it?
As of December 31, 2012, CBLI had a working capital line of credit that was fully secured by cash equivalents and short-term investments. The working capital line of credit carried an interest rate equal to the prime rate, had a borrowing limit of $600,000 and has since been closed. At December 31, 2012 and 2011, there were no outstanding borrowings under this credit facility.
See below to download the CBLI 4q-2012 conference call transcript
| Resource-CBLI-4q2012-CCtranscript.pdf |