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Celsion Corporation Reports First Quarter 2013 Financial Results and Provides Business Update
Date:5/9/2013

and administrative 1,6891,570 Total operating expenses 4,8926,263 

 

Loss from operations (4,767)(6,263)Other income (expense): Gain from valuation of common stock warrant liability4,28078Interest, dividends and other income (expense), net(164)(1)Total other income, net4,11677 

 

Net loss(651)(6,186) 

Non-cash deemed dividends from beneficialconversion feature on convertible preferred stock (4,601)– 

 

Net loss attributable to common shareholders$

(5,252)

$

(6,186) 

Net loss attributable to common shareholders per
common share – basic and diluted$

(0.12)

$

(0.19)Weighted average common shares outstanding –basic and diluted42,99633,197 Celsion Corporation
Selected Balance Sheet Information
(In thousands)ASSETSMarch 31, 2013 (Unaudited)December 31,
2012 Current assetsCash and cash equivalents

$

20,367

$

14,991Short term investments and accrued interest25,4868,104Other current assets562554Total current assets46,41523,649Property and equipment 1,0401,115Other assetsDeposits and other assets477567Patent license fees, net 2628Total other assets503595Total assets$

47,958

$

25,359LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable and accrued liabilities

$

5,278

$

3,595Deferred revenue – current portion500—Note payable - current portion1,8841,410Total current liabilities7,6625,005Common stock warrant liability44,284Note payable – non-current portion3,1733,661Deferred revenue – noncurrent portion4,375—Other liabilities – noncurrent portion443447Total liabilities15,65713,397Stockholders' equity Series A convertible preferred stock1–Common stock515380Additional paid-in capital190,743165,276Accumulated other comprehensiv
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SOURCE Celsion Corporation
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