Maxim Group Reiterates Buy on Celsion (CLSN) Following 2Q Report
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Maxim Group reiterated a Buy rating and $4.00 price target on Celsion Corp (NASDAQ: CLSN) following the company's 2Q earnings report.
Analyst Jason McCarthy commented, "Celsion reported 2Q16 with a net loss of $4.5M or $(0.19) per share. The company ended the period with $14.5M in cash, which includes proceeds from a $6M capital raise. Celsion also expects to receive an additional $6M upon the exercise of "short-dated" warrants associated with the raise by YE16, assumed in our model."
Shares of Celsion Corp closed at $1.20 yesterday.
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