PHILADELPHIA, May 6, 2011 (GLOBE NEWSWIRE) -- Hemispherx Biopharma, Inc. (NYSE Amex:HEB) announced its financial results for the three months ended March 31, 2011. The net loss for the period was approximately $866,000 or $(0.01) per share as compared to a net loss of $5,380,000 or $(0.04) per share for the same period in 2010. This decrease in net loss of $4,514,000 or 84%, comparing the same three month period in 2011 and 2010, was primarily due to lower operational expenses and a gain of $2,272,000 realized from the sale of the Company’s accumulated New Jersey state net operating loss carry forwards. Operating expenses decreased by $473,000 primarily due to lower R&D expenses related to Alferon® LDO and reduced legal expenses due to the settlement of various legal proceedings in 2010. In addition, the quarterly fair value revaluation of the liability related to certain redeemable warrants resulted in a non-cash gain of $301,000, as compared to a non-cash net loss of $(1,336,000) for the same period in 2010.
