Contact Information: Contact: Rachel Levine Director Corporate Development & Communications Cleveland BioLabs, Inc. T: (646) 284-9439 E: rlevine@cbiolabs.com
Rodman & Renshaw Initiates Analyst Coverage of Cleveland BioLabs
| Source: Cleveland BioLabs, Inc.
BUFFALO, NY--(Marketwire - October 5, 2009) - Cleveland BioLabs, Inc. (NASDAQ : CBLI ) today
announced today that Simos Simeonidis, Ph.D., Senior Biotechnology Analyst
at Rodman & Renshaw, LLC, has initiated coverage on the Company.
The Rodman & Renshaw report, dated September 29, 2009, assigned a Market
Outperform/ Speculative Risk rating to the Company, with a 12-month target
price of $8.00 per share. Interested parties should contact Rodman &
Renshaw for more information about the report or visit their website at
http://www.rodmanandrenshaw.com.
About Rodman & Renshaw Capital Group, Inc.
Rodman & Renshaw Capital Group, Inc. is a holding company with a number of
direct and indirect subsidiaries, including Rodman & Renshaw, LLC.
Rodman & Renshaw, LLC is a full service investment bank dedicated to
providing investment banking services to companies that have significant
capital needs, along with research and sales and trading services to
investor clients that focus on such companies. Rodman is a leading
investment banking firm with particular emphasis on industries with
significant capital needs, including health care, energy, and
metals/mining, as well as a leader in the PIPE (private investment in
public equity) and RD (registered direct placements) transaction markets.
About Cleveland BioLabs, Inc.
Cleveland BioLabs, Inc. is a drug discovery and development company
leveraging its proprietary discoveries around programmed cell death to
develop treatments for cancer and protection of 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 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.