Oct 04th 2013 - Edison Investment Research today published a report on Cleveland BioLabs entitled "Hercules Completes A Task For Cleveland". In summary, the report says:
Cleveland has secured a $10m loan from venture debt specialist Hercules Technology Growth Capital. The $6m upfront tranche extends the cash runway into Q214 (from Q114) and provides a buffer against further delays in receiving the much anticipated BARDA development contract award for Entolimod as a radiation countermeasure. We view this as a logical move, particularly in light of the recent US government shutdown, and the largely non-dilutive nature of the financing and Hercules’ due diligence and established track record in life sciences are encouraging features.
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