Provectus Biopharmaceuticals Reports Third Quarter 2015 Financial Results
November 05 2015 - 6:05AM
Business Wire
Provectus Biopharmaceuticals, Inc. (NYSE MKT:PVCT,
http://www.pvct.com), a clinical-stage oncology and dermatology
biopharmaceutical company (“Provectus”), today announced its
results of operations and financial condition for the third quarter
ended September 30, 2015.
Provectus will also hold its quarterly business update
conference call at 5 p.m. (EST) 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 fifteen minutes before the
call. A webcast will also be available at www.pvct.com.
A digital replay will be available by telephone approximately
two hours after the completion of the call until January 31, 2016
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
#13623105.
Third Quarter Financial Results and Balance Sheet
Highlights
The Company's cash and cash equivalents were $18.9 million as of
September 30, 2015. This is an increase of $1.5 million from the
$17.4 million reported as of December 31, 2014.
Stockholders' equity at September 30, 2015, was $24,529,437.
This compares to stockholders' equity at December 31, 2014, of
$25,189,876.
For additional information regarding Provectus' results of
operations and financial condition for the third quarter ended
September 30, 2015, please see Provectus' Quarterly Report on Form
10-Q filed with the Securities and Exchange Commission on November
5, 2015.
About Provectus Biopharmaceuticals, Inc.
Provectus Biopharmaceuticals, Inc., specializes in developing
oncology and dermatology therapies. PV-10, its novel
investigational drug for cancer, is designed for injection into
solid tumors (intralesional administration), thereby reducing
potential for systemic side effects. Its oncology focus is on
melanoma, breast cancer and cancers of the liver. The Company has
received orphan drug designations from the FDA for its melanoma and
hepatocellular carcinoma indications. PH-10, its topical
investigational drug for dermatology, is undergoing clinical
testing for psoriasis and atopic dermatitis. Provectus has
completed Phase 2 trials of PV-10 as a therapy for metastatic
melanoma, and of PH-10 as a topical treatment for atopic dermatitis
and psoriasis. Information about these and the Company’s other
clinical trials can be found at the NIH registry, www.clinicaltrials.gov. For additional information
about Provectus, please visit the Company’s website at www.pvct.com or contact Porter, LeVay & Rose,
Inc.
FORWARD-LOOKING STATEMENTS: This release contains
"forward-looking statements" as defined under U.S. federal
securities laws. These statements reflect management's current
knowledge, assumptions, beliefs, estimates, and expectations and
express management's current views of future performance, results,
and trends and may be identified by their use of terms such as
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "will," and other similar
terms. Forward-looking statements are subject to a number of risks
and uncertainties that could cause our actual results to materially
differ from those described in the forward-looking statements.
Readers should not place undue reliance on forward-looking
statements. Such statements are made as of the date hereof, and we
undertake no obligation to update such statements after this
date.
Risks and uncertainties that could cause our actual results to
materially differ from those described in forward-looking
statements include those discussed in our filings with the
Securities and Exchange Commission (including those described in
Item 1A of our Annual Report on Form 10-K for the year ended
December 31, 2014) and the following:
- our determination, based on guidance
from the FDA, whether to proceed with or without a partner with the
fully enrolled phase 3 trial of PV-10 to treat locally advanced
cutaneous melanoma and the costs associated with such a trial if it
is necessary to complete (versus interim data alone);
- our determination whether to license
PV-10, our investigational drug product for melanoma and other
solid tumors such as cancers of the liver, if such licensure is
appropriate considering the timing and structure of such a license,
or to commercialize PV-10 on our own to treat melanoma and other
solid tumors such as cancers of the liver;
- our ability to license PH-10, our
investigational drug product for dermatology, PH-10, on the basis
of our phase 2 atopic dermatitis and psoriasis results, which are
in the process of being further developed in conjunction with
mechanism of action studies; and
- our ability to raise additional capital
if we determine to commercialize PV-10 and/or PH-10 on our own,
although our expectation is to be acquired by a prospective
pharmaceutical or biotech concern prior to commercialization.
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version on businesswire.com: http://www.businesswire.com/news/home/20151105005238/en/
Provectus Biopharmaceuticals, Inc.Peter R. Culpepper, CFO,
COO866-594-5999 #30orPorter, LeVay & Rose, Inc.Marlon Nurse,
DM, SVP – Investor Relations212-564-4700orTodd Aydelotte - Media
Relations646-428-0644
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