Provectus Biopharma (PVCT) Reports Q1 Loss of $0.04/Share

Provectus Biopharma (NYSE: PVCT) reported Q1 EPS of ($0.04), versus ($0.02) reported last year.

Provectus noted the following balance sheet highlights:

Our cash and cash equivalents were $9,760,997 at March 31, 2016, compared with $14,178,902 at December 31, 2015. The decrease of approximately $4.4 million was due primarily to the $8.0 million in cash used to fund our operating activities for the quarter offset by $3.6 million in cash received from the warrant exchange offer in the quarter ended March 31, 2016. Additional sales of common stock have been reduced since we are seeking to minimize dilution to our existing stockholders where practicable by limiting the issuance of our equity securities.

By managing variable cash expenses due to minimal fixed costs, we believe our cash and cash equivalents on hand at March 31, 2016, will be sufficient to meet our current and planned operating needs until into 2017 without consideration being given to additional cash inflows that might occur from the exercise of outstanding warrants or future sales of equity securities.

Shareholders' equity at March 31, 2016 was $14,184,248. This compares to shareholders' equity at December 31, 2015 of $16,316,941.

For earnings history and earnings-related data on Provectus Biopharma (PVCT) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
• Tvardi Therapeutics (TVRD) Tops Q2 EPS by 1c