Hemispherx Biopharma Announces First Quarter 2007 Financial Results

PHILADELPHIA--(BUSINESS WIRE)--Hemispherx Biopharma, Inc. (AMEX: HEB) announced its financial results for the three months ended March 31, 2007. The net loss for this period was approximately $5,100,000 or $(.07) per share compared to a loss of approximately $5,920,000 or $(.10) per share for the same period in 2006. This 14% reduction in loss was primarily due to 1) lower G&A expense of $1,310,000 related to a reduction in non-cash equity based compensation as fewer stock options were granted to employees, 2) lower interest and non-cash financing costs of $80,000 due to decreased debt amortization on debentures as they mature and 3) an increase in interest and other income of $94,000 primarily due to the timing of maturities of our short-term investments. Offsetting these lower expenses was an increase of $746,000 in research and development costs associated with the preparation of the NDA for Ampligen, and the production of Ampligen raw materials (polymers) at its New Brunswick facility.