CORRECTING AND REPLACING: Hemispherx Biopharma Reports First Quarter 2018 Financial Results and Provides Business Update
May 16 2018 - 2:19PM
In a release issued earlier today by Hemispherx Biopharma,
Inc. (NYSE American:HEB) with the same headline, the net loss from
operations was incorrect in the fourth paragraph. It should say
$0.07 per share, not $0.70 per share. The corrected release
follows.
Hemispherx Biopharma, Inc. (NYSE
American:HEB), an advanced specialty pharmaceutical company engaged
in the treatment of serious and debilitating disorders through the
development of its immunology products Ampligen® and Alferon®,
today announced its financial results for the first quarter ended
March 31, 2018.
“We made significant progress in the quarter that just ended,
including significant improvements to our balance sheet, the
production of the equivalent of more than 8,500 vials of Ampligen
at our contract fill and finish manufacturer, the expansion of our
Ampligen supply agreements for early access programs in Canada and
Europe under the management of myTomorrows, and the continuation of
our plans to start advanced clinical trials of Ampligen as a single
agent and a combination immuno-oncology therapy,” said Thomas K.
Equels, Hemispherx’s chief executive officer.
“During the quarter we added to our cash by booking Ampligen
sales, the sale/leaseback of our manufacturing facility, the sale
of non-strategic real estate, and the exercise of warrants and the
sale of common stock,” he continued. “We believe that this will
enable us to meet the current and anticipated needs of our
commercial channels and clinical study programs, as we work with
the FDA to identify a path toward approval for Ampligen for the
treatment of Myalgic Encephalomyelitis/Chronic Fatigue
Syndrome.”
First Quarter 2018 Financial HighlightsAs of
March 31, 2018, Hemispherx had $4.6 million in cash and cash
equivalents, compared to $2.1 million at December 31, 2017. Cash
used in operations was $2.5 million for the three months ended
March 31, 2018, compared to $3.0 million in the same quarter in
2017. The net loss from operations was $2.7 million, or $0.07 per
share, for the first quarter of 2018, compared to a net loss of
$2.8 million, or $0.11 per share, for the first quarter of
2017.
About Hemispherx Biopharma
Hemispherx Biopharma, Inc. is an advanced specialty pharmaceutical
company engaged in the clinical development of new drug entities
for the treatment of serious and debilitating disorders.
Hemispherx's flagship products include the FDA-approved drug
Alferon N Injection® and the Argentina-approved drug rintatolimod
(tradenames Ampligen® or Rintamod®). Rintatolimod is a
double-stranded RNA being developed for globally important diseases
and disorders of the immune system, including Myalgic
Encephalomyelitis/Chronic Fatigue Syndrome (ME/CFS). Because
rintatolimod has not been designated safe and effective by the FDA
for general use, it is legally available in the United States only
through clinical trials. However, Ampligen® has been approved in
Argentina for ME/CFS and the company is working toward legal access
in other countries where early access programs exist for serious
diseases with unmet medical needs, such as ME/CFS. Ampligen® is the
only therapy approved anywhere in the world for ME/CFS. An
Ampligen® Early Access Program (EAP) approval has also been
obtained for therapeutic use in the Netherlands for pancreatic
cancer.
Cautionary StatementSome of the statements
included in this press release may be forward-looking statements
that involve a number of risks and uncertainties. For those
statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Any forward-looking statements set
forth in this press release speak only as of the date of this press
release. We do not undertake to update any of these forward-looking
statements to reflect events or circumstances that occur after the
date hereof. This press release and prior releases are available at
www.hemispherx.net. The information found on our website is not
incorporated by reference into this press release and is included
for reference purposes only.
ContactHemispherx Biopharma Phone Number:
800-778-4042 Email: IR@hemispherx.net
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