Provectus Biopharma (PVCT) Issues Q4, FY14 Results; Doesn't Expect to Raise Additional Funds for Further PV-10 Development

Provectus Biopharmaceuticals (NYSE: PVCT) announced its results of operations and financial condition for the fourth quarter and year ended December 31, 2014.

Provectus will also hold its year-end quarterly business update conference call at 4 p.m. (EDT) today to provide a business update on PV-10 and PH-10 to the investment community and answer questions from investors.

Those who wish to participate in the conference call may telephone 877-407-4019 from the U.S. International callers may telephone 201-689-8337, approximately 15 minutes before the call. A webcast will also be available at Provectus’s website, www.pvct.com. A digital replay will be available by telephone approximately two hours after the completion of the call until March 31, 2015, and may be accessed by dialing 877-660-6853 from the U.S. or 201-612-7415 for international callers, and using the Conference ID# 13601930.

Fourth Quarter and Year End Results and Balance Sheet Highlights

At December 31, 2014, cash and cash equivalents were $17,391,601 compared to $15,696,243 at December 31, 2013. The increase of approximately $1.7 million was due primarily to an increase of sales of common stock and warrants as well as exercises of warrants and stock options, partially offset by approximately $4 million more cash that was used in operating activities.

Therefore, our ability to continue as a going concern is reasonably assured due to our cash and cash equivalents on hand at December 31, 2014. Given our current rate of expenditures and our ability to curtail or defer certain controllable expenditures, we do not anticipate needing to raise additional capital to further develop PV-10 on our own to treat locally advanced cutaneous melanoma, cancers of the liver, recurrent breast cancer, pancreatic cancer and other indications because we plan to strategically monetize PV-10 through appropriate regional license transactions, license PH-10 for psoriasis and other related indications described as inflammatory dermatoses, and also complete the spin-out of Pure-ific Corporation and the other non-core subsidiaries.

Shareholders’ equity at December 31, 2014 was $26,184,158. This compares to shareholders’ equity at December 31, 2013 of $20,008,184.

For additional information regarding Provectus’s results of operations and financial condition for the fourth quarter and year ended December 31, 2014, please see Provectus’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 12, 2015.

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