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