PHILADELPHIA, Aug. 13, 2007 (PRIME NEWSWIRE) -- Hemispherx Biopharma, Inc. (AMEX: HEB) announced its interim financial results for the three months ended June 30, 2007. The net loss for this fiscal quarter was approximately $3,925,000 or $(.05) per share compared to a loss of $5,081,000 or $(.08) per share for 2006. The $1,156,000 decrease in loss was basically due to 1) reduced general and administrative expense of $543,000 primarily related to a reduction in non-cash equity based compensation and lower accounting fees; 2) interest and other income increased $211,000 due to higher interest earned in the current period from the maturities of marketable securities and 3) lower interest expense of $295,000 relating to the amortization of debt discounts on convertible debentures. All convertible debentures were fully retired on June 29, 2007.
The net loss for the six months ended June 30, 2007 was approximately $9,025,000 or $(.13) per share compared to a loss of $11,000,000 or $(.18) per share for the same period in 2006.
Additional Medical, Regulatory and cGMP Manufacturing expertise continued to be retained to augment existing staff in support of the anticipated NDA for Poly I: Poly C12U (Ampligen(r)) for potential treatment of Chronic Fatigue Syndrome (CFS).
About Hemispherx Biopharma
Hemispherx Biopharma, Inc. is a biopharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of seriously debilitating disorders. Hemispherx's flagship products include Alferon N Injection(r) and the experimental therapeutics Ampligen(r) and Oragens(r). Alferon N Injection(r) is approved for a category of STD infection, and Ampligen(r) and Oragens(r) represent a large portfolio of experimental RNA nucleic acids being developed for globally important viral diseases, severely debilitating disorders and biodefense applications. Hemispherx's platform technology includes large and small agent components for potential treatment of various severely debilitating and life threatening diseases. Hemispherx has in excess of 100 issued patents comprising its core intellectual property estate, a fully commercialized product (Alferon N Injection(r)) and GMP certified manufacturing facilities for its novel pharma products. The Company is actively engaged in further expansion of its intellectual property on a world wide basis to reflect the global distribution of the various disorders which its platform technologies address. For more information please visit www.hemispherx.net.
Information contained in this news release other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risk of competition, changing market conditions, change in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. Any specifically referenced investigational drugs and associated technologies of the Company (including Ampligen(r), Alferon LDO and Oragens) are experimental in nature and as such are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. The forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. Clinical trials for other potential indications of the approved biologic Alferon N Injection(r) do not imply that the product will ever be specifically approved commercially for these other treatment indications.