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Hemispherx Biopharma (HEB) Announces Financial Results for the Three Months Ended September 30, 2013



11/11/2013 12:22:33 PM

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PHILADELPHIA, Nov. 8, 2013 (GLOBE NEWSWIRE) -- Hemispherx Biopharma (NYSE MKT:HEB) announced its financial results for the three months ended September 30, 2013. The net loss (including non-cash effects) was approximately $5,136,000 or $(0.03) per share as compared to a net loss of $6,587,000 or ($0.05) per share for the same three month period in 2012. This Quarter-to-Quarter decrease in net loss of approximately $1,451,000 was predominantly caused by:

An approximate $509,000 reduction in overall operating expenses;

A non-cash impairment loss of approximately $800,000, recognized in the three-month period of 2013 to reflect the decline in the market value of our Marketable Securities (Mutual Bond Funds); and

The quarterly fiscal revaluation of certain redeemable warrants, resulting in a non-cash gain of approximately $2,006,000 in comparing same three month periods of 2013 to 2012.

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