SOURCE: Cleveland BioLabs, Inc.

May 07, 2008 09:03 ET

Buyins.net Initiates Coverage on Cleveland BioLabs With SqueezeTrigger Price of $7.41

BUFFALO, NY--(Marketwire - May 7, 2008) - Cleveland BioLabs, Inc. (NASDAQ: CBLI) announced today that Buyins.net initiated coverage on the Company after releasing the latest short sale data through May 2008.

The Buyins.net report stated that the total aggregate number of CBLI shares shorted between July 2006 and May 2008 is approximately 2.5 million shares. The report also stated that the CBLI SqueezeTrigger price of $7.41 is the volume weighted average short price of all short selling in CBLI.

Interested parties should visit http://www.buyins.net for more information.

About Buyins.net

Buyins.net is a service designed to help shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale.

About Cleveland BioLabs, Inc.

Cleveland BioLabs, Inc. is a drug discovery and development company leveraging its proprietary discoveries about programmed cell death to treat cancer and protect normal tissues from exposure to radiation and other stresses. The Company has strategic partnerships with the Cleveland Clinic, Roswell Park Cancer Institute, ChemBridge Corporation and the Armed Forces Radiobiology Research Institute. To learn more about Cleveland BioLabs, Inc., please visit the company's website at http://www.cbiolabs.com.

This press release does not suggest or imply an endorsement by the Company of any recommendation or reference in any publication by unrelated parties.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's periodic filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Rachel Levine
    Director Corporate Development & Communications
    Cleveland BioLabs, Inc.
    T: (646) 284-9439
    E: rlevine@cbiolabs.com