PHILADELPHIA, March 18, 2013 (GLOBE NEWSWIRE) -- Hemispherx Biopharma (NYSE MKT:HEB) announced its financial results for the fiscal year ended December 31, 2012. The net loss for 2012's twelve month period (including non-cash effects) was approximately $17,354,000 or $(0.12) per share as compared to a net loss of $9,015,000 or ($0.07) per share for the same period in 2011. This year-to-year increase in net loss of approximately $8,339,000 (93%) was predominantly caused by:
- the cost of our continued efforts to seek FDA approval of the Ampligen® NDA for Chronic Fatigue Syndrome and preparations for FDA inspections of our New Brunswick, NJ manufacturing facility;
- the cost of fill, finish and packaging of Alferon N Injection® Work-In-Process inventory along with a related valuation write-down of existing inventory to the lower of cost or market; and
- the fair value revaluation of the estimated liability related to certain redeemable warrants resulting in a non-cash gain of $85,000 in 2012 as compared to a gain of $2,425,000 for the same period in 2011 for an increased loss of $2,340,000 comparing the two years.