3.	Capital Availability

We have net income of $4.5 million and net loss of $17.5 million for the three and six months ended June 30, 2015, respectively and incurred net losses of $11.8 million and $22.2 million for the three and six months ended June 30, 2014, respectively. We have an accumulated deficit of $356 million as of June 30, 2015. Additionally, we have used net cash of $9.8 million and $18.1 million to fund our operating activities for the six months ended June 30, 2015 and 2014, respectively. To date, these operating losses have been funded primarily from outside sources of invested capital and gross profits. On May 5, 2015, we entered into a Securities Purchase Agreement with certain institutional investors pursuant to which the Company agreed to sell up to $25 million of units, with each unit consisting of its common stock and one warrant to purchase one share of its common stock.

Pursuant to the recently announced securities transaction and related equity issuance, as well as anticipated gross profits and potential outside sources of capital, the Company believes it has sufficient cash to fund operations through at least the next 12 months. The Company continues to seek additional capital through product revenues, strategic transactions, including extension opportunities under the awarded U.S. Department of Health and Human Service’s Biomedical Advanced Research and Development Authority (“BARDA”) contract, and from other financing alternatives.

See Note 12 for further discussion on our May 2015 Securities Purchase Agreement.