On March 30, 2016 Provectus Biopharmaceuticals, Inc. (NYSE MKT: PVCT, www.pvct.com), a clinical-stage oncology and dermatology biopharmaceutical company ("Provectus" or "The Company"), reported its financial results for the fourth quarter and year ended December 31, 2015 (Filing, Q4/Annual, Provectus Pharmaceuticals, 2015, MAR 30, 2016, View Source [SID:1234510223]).
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Provectus is holding its previously announced conference call at 4 p.m. (EDT) today to discuss the Company’s 2015 financial results 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 June 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 #13633721.
Fourth Quarter and Year End Results and Balance Sheet Highlights
At December 31, 2015, cash and cash equivalents were $14,178,902 compared to $17,391,601 at December 31, 2014. The decrease of approximately $3.2 million was due primarily to operating activities.
Our ability to continue as a going concern is reasonably assured due to our financing completed during 2015 and thus far in 2016 from our Warrant Exchange Transaction. Given our current rate of expenditures and our ability to curtail or defer certain controllable expenditures, we do not anticipate the need to raise additional capital to further develop PV-10 on our own to treat melanoma, HCC and cancers of the liver, recurrent breast carcinoma, and other indications. Moreover, we plan to license PH-10 for psoriasis and other related indications described as inflammatory dermatoses, and strategically monetize PV-10, although there can be no assurance that any such transactions will occur. Additionally, our existing funds are sufficient to meet minimal necessary expenses until 2017.
Shareholders’ equity at December 31, 2015 was $16,316,941. This compares to shareholders’ equity at December 31, 2014 of $25,189,876.
For additional information regarding Provectus’s results of operations and financial condition for the fourth quarter and year ended December 31, 2015, please see Provectus’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2016.