PHILADELPHIA, Pa. (
CEO Bill Carter purchased 30,000 shares of the company's common stock on Dec. 7. The purchase price was 57 cents a share, according to a filing with the Securities and Exchange Commision.
No doubt, Carter is hoping to send a message that he's confident in Hemispherx's future, even though the Food and Drug Administration
drug last week. That rejection sent Hemispherx shares tumbling, inflicting the big hurt on existing shareholders.
Carter spent $17,100 on his open market purchase of Hemispherx stock, which is chump change compared to his $600,000-plus annual salary and the $300,000 bonus awarded to him in May.
If Carter wants investors to start believing him, he might work on improving his dismal, decades-long track record of
false promises and dead-end drug development
. Buying stock
Hemispherx blows up, costing his shareholders tons of money, isn't exactly going to inspire much confidence or sympathy.
Slowing Swine Bursts BioCryst Bubble
(At 9:11 AM EST)
stock price continues to fall as H1N1 flu activity wanes in the U.S., signaling less need for its intravenous antiviral drug peramivir.
Despite all the worries, the H1N1 pandemic appears to be
and may not cause any more patient hospitalizations or deaths than the typical seasonal flu, according to a new study published Monday in
The study used H1N1 activity data reported by health officials in Milwaukee and New York City -- two cities with a good track record of reporting consistent flu data -- to re-assess the virus' overall impact on hospitalizations and death rates.
The study's findings "suggest that an autumn–winter pandemic wave of pH1N1 will have a death toll only slightly higher than or considerably lower than that caused by seasonal influenza in an average year, provided pH1N1 continues to behave as it did during the summer. Similarly, the estimated burden on hospitals and intensive care facilities ranges from somewhat higher than in a normal influenza season to considerably lower," according to a editor's summary of the study available on the
The study does caution that a H1N1 flu activity could increase again in January, although an increase in the vaccination rate against the virus decreases the likelihood of a flu resurgence.
You can download the study
report on the study can be found
remains mum on international stockpiling orders for peramivir. Foreign media outlets have reported small purchases of peramivir in Israel, Mexico and South Korea, but BioCryst has yet to make any announcement. A story published just after Thanksgiving in the
reported that the country's public health agency had ordered "200 doses", or courses, of peramivir.
BioCryst shares closed Monday at $7.05. The stock is down 42% since hitting a mid-November high of $12.32.
-- Reported by Adam Feuerstein in Boston
Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback;
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