Provectus Biopharmaceuticals, Inc. Reports Second Quarter 2016 Financial Results
August 09 2016 - 5:05PM
Business Wire
Provectus Biopharmaceuticals, Inc. (NYSE MKT:PVCT,
www.provectusbio.com), a clinical-stage oncology and dermatology
biopharmaceutical company (“Provectus” or the "Company”) today
announced its financial results for the quarter ended June 30,
2016.
Second Quarter Results and Balance Sheet Highlights
Our cash and cash equivalents were $4,891,313 at June 30, 2016,
compared with $9,760,997 at March 31, 2016.
Shareholders' equity at June 30, 2016 was $9,140,166. This
compares to shareholders' equity of $14,184,248 at March 31,
2016.
For additional information regarding Provectus' results of
operations and financial condition for the second quarter ended
June 30, 2016, please see Provectus' Quarterly Report on Form 10-Q
filed with the Securities and Exchange Commission on August 9,
2016.
Management will host its 2016 second quarter business update
conference call on Wednesday, August 10, 2016 at 4 pm Eastern
Daylight Time. Management will 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.provectusbio.com.
A digital replay will be available by telephone approximately
two hours after the completion of the call until November 30, 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
# 13641484.
About Provectus Biopharmaceuticals, Inc.
Provectus Biopharmaceuticals is investigating new therapies for
the treatment of skin cancer, liver cancer and breast cancer.
Provectus’ investigational oncology drug, PV-10, is an ablative
immunotherapy under investigation in solid tumor cancers. 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.provectusbio.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, 2015) 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, 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/20160809006464/en/
Provectus Biopharmaceuticals, Inc.Peter R. Culpepper,
866-594-5999 #30Interim CEO, COOorPorter, LeVay & Rose,
Inc.Marlon Nurse, DM, 212-564-4700SVP – Investor RelationsorAllison
+ PartnersTodd Aydelotte, 646-428-0644Managing Director – Media
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