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Spring Bank Pharmaceuticals, Inc. (SBPH) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Spring Bank Pharmaceuticals, Inc.

CIK: 1566373 Ticker: SBPH

Exhibit 99.1

 

 

Spring Bank Pharmaceuticals Reports Second Quarter Financial Results

 

Conference Call Scheduled for Thursday, August 2 at 8:00 a.m. EST to Provide Corporate Update

 

HOPKINTON, Mass., Aug. 1, 2018

– Spring Bank Pharmaceuticals, Inc. (Nasdaq: SBPH), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of viral infections, inflammatory diseases and certain cancers, today announced its 2018 second quarter financial results.  Spring Bank’s management team will host a conference call and webcast at 8:00 a.m. EST, on Thursday, August 2, 2018, to provide a corporate update.

2018 Second Quarter Financial Results

Cash Position: Cash, cash equivalents and marketable securities were $40.0 million as of June 30, 2018, compared to cash, cash equivalents and marketable securities of $50.6 million as of December 31, 2017. Net cash used in operating activities for the six months ended June 30, 2018 was $13.0 million, compared to $8.8 million for the same period in 2017. Spring Bank anticipates that its existing cash, cash equivalents and marketable securities will enable it to fund its operating expenses and capital expenditure requirements into the first quarter of 2020, including the funding of the initiation of our anticipated Phase 2b/3 program for inarigivir in early 2019.

Operating Expenses: Total operating expenses for the three months ended June 30, 2018 were $8.0 million, which consisted of $5.6 million of research and development (R&D) expenses and $2.4 million of general and administrative (G&A) expenses.

Net loss: The Company’s net loss for the three months ended June 30, 2018 was $3.8 million, or $0.29 per share, compared to $8.9 million for the three months ended June 30, 2017, or $0.93 per share.

Conference Call

Spring Bank will host a conference call and webcast at 8:00 a.m. EST, on Thursday, August 2, 2018, to provide a corporate update. The conference call may be accessed by dialing 800-289-0438 for U.S. callers and 323-794-2423 for international callers and providing the conference ID 9011622.  A live, listen-only webcast of the conference call can be accessed by visiting the Investors & Media section of the company’s website at www.springbankpharm.com. A replay of the conference call will be available following the call until August 16, 2018, or by dialing 844-512-2921 for U.S. callers and 412-317-6671 for international callers five minutes prior to the start of the call and providing the conference ID 9011622. A replay of the call may be accessed by visiting Spring Bank’s website.

About Spring Bank Pharmaceuticals

Spring Bank Pharmaceuticals is a clinical-stage biopharmaceutical company engaged in the discovery and development of a novel class of therapeutics using its proprietary small molecule nucleic acid hybrid (SMNH) chemistry platform. SMNH compounds are small segments of nucleic acids that the company


The following information was filed by Spring Bank Pharmaceuticals, Inc. (SBPH) on Wednesday, August 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Spring Bank Pharmaceuticals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Operations And Comprehensive Loss
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Tables)
Accrued Expenses And Other Current Liabilities - Schedule Of Accrued Expenses (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Summary Of Future Minimum Lease Payments For Operating Leases (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Summary Of Assets And Liabilities Measured At Fair Value (Detail)
Fair Value Measurements - Summary Of Change In Company's Level 3 Liabilities, Warrants Issued In A Private Placement (Detail)
Investments
Investments (Tables)
Investments - Schedule Of Amortized Cost And Fair Value Of Available-For-Sale Investments, By Contract Maturity (Detail)
Investments - Summary Of Available-For-Sale Classified Investments (Detail)
Investments - Summary Of Investments By Category (Detail)
Nature Of Business And Summary Of Significant Accounting Policies
Nature Of Business And Summary Of Significant Accounting Policies (Policies)
Nature Of Business And Summary Of Significant Accounting Policies (Tables)
Nature Of Business And Summary Of Significant Accounting Policies - Additional Information (Detail)
Nature Of Business And Summary Of Significant Accounting Policies - Summary Of Estimated Useful Lives Of Property And Equipment (Detail)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Additional Information (Detail)
Net Loss Per Share - Summary Of Computation Of Basic And Diluted Net Loss Per Share (Detail)
Net Loss Per Share - Summary Of Potentially Dilutive Securities Outstanding Excluded From Computation Of Diluted Weighted-Average Shares Outstanding (Detail)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Detail)
Property And Equipment, Net - Schedule Of Property And Equipment (Detail)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Detail)
Stockholders' Equity - Summary Of Assumptions To Determine Fair Value Of Stock Options Granted To Employees And Directors (Detail)
Stockholders' Equity - Summary Of Assumptions Used To Record Fair Value Of Warrants (Detail)
Stockholders' Equity - Summary Of Option Activity (Detail)
Stockholders' Equity - Summary Of Shares Of Common Stock Reserved (Detail)
Stockholders' Equity - Summary Of Stock-Based Compensation Expense (Detail)
Stockholders' Equity - Summary Of Warrant Activity (Detail)
Subsequent Events

Material Contracts, Statements, Certifications & more

Spring Bank Pharmaceuticals, Inc. provided additional information to their SEC Filing as exhibits

Ticker: SBPH
CIK: 1566373
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-025124
Submitted to the SEC: Thu Oct 25 2018 4:17:07 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Pharmaceutical Preparations

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