Celsion Corp. announced unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported loss from operations of $4,767,000 against $6,263,000 a year ago. Net loss was $651,000 against $6,186,000 a year ago. Net loss attributable to common shareholders was $5,252,000 against $6,186,000 a year ago. Basic and diluted net loss attributable to common shareholders per common share was $0.12 against $0.19 a year ago. Net cash provided by operations was $1.8 million. Licensing revenue was $125,000. Net loss for the quarter ended March 31, 2013 was favorably impacted by lower operating costs coupled with the non-cash benefit of $4.3 million from the valuation of the common stock warrant liability associated with warrants issued in a registered direct equity offering in September 2009.

Celsion Corp. (NasdaqCM:CLSN) is looking for acquisition opportunities. "With the support of our medical advisors, we have been working diligently to better understand the clinical data and findings from the Phase III HEAT Study. Concurrently, we have been taking appropriate measures to position Celsion for future success including reducing expenses and exploring acquisition opportunities”, Michael Tardugno, President and Chief Executive Officer of Celsion said. Cantor Fitzgerald & Co. hired as financial advisor to conduct a comprehensive review of merger and acquisition opportunities.

Celsion Corp., Q1 2013 Earnings Call, May 09, 2013