Hemispherx Biopharma Announces Financial Results In Its Quarterly Report For The Nine Months Ended September 30, 2016

PHILADELPHIA, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Hemispherx Biopharma (NYSE:HEB) announces the filing of its Quarterly Report and its financial results for the nine months ended September 30, 2016. The net loss was approximately $6,329,000 or $(0.30) per share as compared to a net loss of $12,093,000 or ($0.62) per share for the same nine month period in 2015. Cash, cash equivalents and marketable securities were approximately $8,009,000 at September 30, 2016 as compared to $8,910,000 as of December 31, 2015.

Hemispherx Biopharma recently made changes to its senior management team and implemented austerity measures which included the reduction of executive compensation and elimination of non-essential contractors and personnel. These measures have resulted in a significant reduction in costs and expenses. The Company is now focusing on commercial success by seeking co-development partners and working closely with the research and regulatory communities to bring disease fighting technologies to the world.

In the middle of this quarter, on August 18, 2016, we received approval of our New Drug Application ("NDA") from Administracion Nacional de Medicamentos, Alimentos y Tecnologia Medica ("ANMAT") for commercial sale of rintatolimod (U.S. tradename: Ampligen ®) in the Argentine Republic for the treatment of severe myalgic encephalomyelitis/chronic fatigue syndrome ("ME/CFS"). The product will be marketed by GP Pharm, our commercial partner in Latin America. We believe that rintatolimod is the first drug to receive approval for this indication anywhere in the world.

Conference Call InformationHemispherx will host a conference call at 11:00 a.m. Eastern Standard Time (EST) on Tuesday, November 15, 2016 to provide a general business update. Hemispherx will respond to various stockholder questions submitted prior to the call. 

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