Cytocom reports, has 21 treatment options

FORT COLLINS — Cytocom Inc. (NASDAQ: CBLI) reported second quarter results, its first such report after its late July merger.

The pharma lost $700,000 on no revenue in the quarter, after ending a medical research program with the Department of Defense and an uptick in legal and administrative costs related to its completed merger with Cleveland BioLabs Inc.

The company reiterated its $90 million debt-and-equity financial commitment from GEM Global Yield LLC, Avenue Capital, and Adit Ventures, each in New York City.

The company said at its merger it expected to spend $15 million in August; in today’s earnings press release Cytocom said it had $23 million cash on hand and sufficient liquidity to continue its work.

The immunotherapy company said it has “21 development- and clinical-stage programs across eight different assets” including a Phase 3 trial for Crohn’s disease this year and one for pancreatic cancer expected in 2022.

Cytocom shares were down about 6% to a $95 million market cap in early trading.

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