Cleveland BioLabs, Inc. (CBLI) saw its loss widen to $1.66 million, or $0.15 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.67 million, or $0.06 a share.

Revenue during the quarter dropped 29.23 percent to $0.57 million from $0.81 million in the previous year period.

Operating loss for the quarter was $1.62 million, compared with an operating loss of $2.31 million in the previous year period.

Yakov Kogan, Ph.D., MBA, chief executive officer, stated, "The pursuit of commercialization for entolimod as a medical radiation countermeasure remains our top priority. As previously announced, we are excited to have received agreement from the FDA to commence the in vivo biocomparability study in non-human primates. Following completion of this study and discussion of the study results with the FDA, we expect the agency to resume the review of our pre-EUA dossier."

The company has spent $0.81 million cash to meet investing activities during the quarter as against cash inflow of $6.35 million in the last year period.

Cash and cash equivalents stood at $3.82 million as on Mar. 31, 2017, down 63.94 percent or $6.77 million from $10.59 million on Mar. 31, 2016.

Working capital declines
Cleveland BioLabs, Inc. has witnessed a decline in the working capital over the last year. It stood at $11.19 million as at Mar. 31, 2017, down 24.50 percent or $3.63 million from $14.82 million on Mar. 31, 2016. Current ratio was at 5.24 as on Mar. 31, 2017, up from 4.05 on Mar. 31, 2016.

Days sales outstanding went down to 90 days for the quarter compared with 102 days for the same period last year.