Cleveland BioLabs, Inc. (CBLI) saw its loss narrow to $1.23 million, or $0.11 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $1.42 million, or $0.13 a share.

Revenue during the quarter dropped 22.04 percent to $0.99 million from $1.27 million in the previous year period.

Operating loss for the quarter was $1.84 million, compared with an operating loss of $1.81 million in the previous year period.

Yakov Kogan, Ph.D., MBA, chief executive officer, stated, "The past year was one of significant progress for CBLI. We commenced or continued clinical studies designed to further substantiate the potential of our Toll-like receptor agonists, entolimod, CBLB612 and Mobilan."

Cash flow from investing activities was $5.67 million from investing activities during the year as against cash outgo of $10.28 million in the last year.

Cash flow from financing activities was $0.54 million for the year, down 97.83 percent or $24.40 million, when compared with the last year.

Cash and cash equivalents stood at $6.90 million as on Dec. 31, 2016, up 16.62 percent or $0.98 million from $5.92 million on Dec. 31, 2015.

Working capital declines
Cleveland BioLabs, Inc. has witnessed a decline in the working capital over the last year. It stood at $12.78 million as at Dec. 31, 2016, down 13.95 percent or $2.07 million from $14.85 million on Dec. 31, 2015. Current ratio was at 5.11 as on Dec. 31, 2016, up from 3.54 on Dec. 31, 2015.