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CORRECTION -- Cleveland BioLabs Reports First Quarter 2013 Financial Results And Development Progress

Stocks in this article: CBLI

BUFFALO, N.Y., May 9, 2013 (GLOBE NEWSWIRE) -- In a release issued earlier today under the same headline by Cleveland BioLabs, Inc. (Nasdaq:CBLI), the years in the column headers in the Consolidated Balance Sheets table were incorrect. With the exception of the headers, all other financials were correct. The corrected table follows:

     
CLEVELAND BIOLABS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SEEETS
     
  March 31, December 31,
  2013 2012
  (unaudited)  
ASSETS
Current assets:    
Cash and cash equivalents  $ 19,769,013  $ 25,652,083
Short-term investments  1,286,861  2,633,944
Accounts receivable  477,180  41,896
Other current assets  1,136,042  1,078,040
Total current assets  22,669,096  29,405,963
     
     
Equipment, net  910,897  986,553
Restricted cash  1,541,842  1,577,920
Other long-term assets  61,592  39,597
     
Total assets  $ 25,183,427  $ 32,010,033
     
LIABILITIES & STOCKHOLDERS' EQUITY
     
Current liabilities:    
Accounts payable  $ 1,234,575  $ 1,523,875
Accrued expenses  3,285,022  2,410,592
Deferred revenue  3,024,565  3,314,918
Accrued warrant liability  7,553,382  4,105,659
Current portion of capital lease obligation  74,276  71,679
Total current liabilities  15,171,820  11,426,723
     
Noncurrent portion of capital lease obligation  78,030  97,602
     
Commitments and contingencies  --  -- 
     
Total liabilities  15,249,850  11,524,325
     
Stockholders' equity:    
Total Cleveland BioLabs, Inc. stockholders' equity (deficit)  (3,130,884)  6,333,167
Noncontrolling interest in stockholders' equity  13,064,461  14,152,541
Total stockholders' equity  9,933,577  20,485,708
     
Total liabilities and stockholders' equity  $ 25,183,427  $ 32,010,033

Contact:  Rachel Levine, Vice President, Investor Relations Cleveland BioLabs, Inc. T: (646) 284-9439 E: rlevine@cbiolabs.com

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