Cleveland BioLabs other news
Cleveland's co-founders, CEO Yakov Kogan and CSO Andrei Gudkov, and the company's directors voluntarily reduced their base pay by 20% to conserve financial resources. Co-founder reductions took effect immediately, while director reductions will take effect July 1 following the election of directors at the annual stockholders meeting. At March 31, Cleveland had $13.7 million in cash and a three-month operating loss of $3.5 million. The company had a 2013 operating loss of $23.1 million.
In January, Cleveland BioLabs said HHS's Biomedical Advanced Research and Development Authority (BARDA) terminated negotiations related to the company's October 2012 proposal for further funding to develop entolimod ( CBLB502). The company plans to meet with FDA this year to discuss a pre-Emergency Use Authorization pathway for entolimod (see BioCentury, Jan. 27). ...