Cleveland BioLabs, Inc. Provides Earnings Guidance for the Year Ended December 31, 2020
February 19, 2021 at 01:52 pm
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Cleveland BioLabs, Inc. provided earnings guidance for the year ended December 31, 2020. For the year ended December 31, 2020, the company estimates that its revenues will range from $250,000 to $280,000, representing a decrease of approximately 76% compared to the year ended December 31, 2019, primarily due to a decrease in revenue from the Company’s contracts with the U.S Department of Defense that provided grants for preclinical studies and a decrease in revenue from the Incuron LLC service contract for continued preclinical development. For the year ended December 31, 2020, the Company estimates that its net loss will range from $2.3 million to $2.5 million, a decrease in loss of approximately 10% when compared to a reported net loss of $2.7 million for the year ended December 31, 2019. The decrease in net loss was primarily due to decreased R&D expenses, offset in part by an increase in general and administrative expense primarily related to the Company’s sale of securities in June of 2020 and the negotiation of the Merger.
Statera BioPharma, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing immunotherapies autoimmune, neutropenia/anemia, emerging viruses and cancers based on a proprietary platform designed to rebalance the bodyâs immune system and restore homeostasis. It has platform of toll-like receptor (TLR) agonists with TLR4 and TLR9 antagonists, and the TLR5 agonists, Entolimod and GP532. The Company is developing therapies designed to directly elicit within patients a robust and durable response of antigen-specific killer T-cells and antibodies, thereby activating essential immune defenses against autoimmune, inflammatory, infectious diseases, and cancers. It has clinical programs for Crohnâs disease (STAT-201), hematology (Entolimod), pancreatic cancer (STAT-401) and COVID-19 (STAT-205) in addition to potential expansion into fibromyalgia and multiple sclerosis.