Celsion Receives $2.5 Million in Non-Dilutive Funding from the Sale of its New Jersey State Net Operating Losses and Grant Funding Under the Paycheck Protection Program
Added Capital Strengthens Balance Sheet, Assures Cash Through Major Phase III OPTIMA Study Data Readout Events
Sale of an Additional
The competitive New Jersey NOL Program enables approved companies to sell their unused New Jersey NOLs and R&D tax credits to unaffiliated, profit-generating corporate taxpayers in the state of
Loans made under the Paycheck Protection Program have two-year terms and charge 1% interest. If borrowers follow guidelines and use at least 75% of the money for eligible payroll costs, some or all of the loan may be forgiven.
“This innovative economic development program offered by the NJEDA reinforces our belief in the State of New Jersey’s commitment to the biotechnology industry and to the development of new life-saving therapies. We will participate in this program again in 2020 to secure the remaining
“Over the past two years,
For more details on this funding for this year’s NOL program, please visit www.njeda.com.
About Celsion Corporation
Celsion Investor Contact
Executive Vice President and CFO
LHA Investor Relations
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Source: Celsion CORP