PHILADELPHIA, Aug. 12, 2008 (PRIME NEWSWIRE) -- Hemispherx Biopharma, Inc. (AMEX:HEB) announced its financial results for the fiscal quarter ended June 30, 2008. The net loss including non-cash expenses for this period was approximately $2,802,000 or ($0.04) per share compared to a loss of $3,925,000 or ($0.05) per share for the same period in 2007. This reduced net loss of $1,123,000 was basically due to 1) a reduction in R&D costs primarily due to extensive work on the Company’s Ampligen New Drug Application (NDA) in 2007. R&D costs were down approximately $1,374,000 in 2008; 2) there were no sales of Alferon N Injection in the second quarter of 2008 as there was no product available for sale due to the shelf life expiration date of the current inventory, as a result, sales where down $196,000; 3) G&A costs increased $247,000 during the second quarter, 2008 primarily due to the non-cash write down of prepaid royalties related to Alferon N Injection; 4) financing and interest expenses were lower by $183,000 due to the retirement of certain Convertible Debentures in June 2007. The loss for the six months ended June 30, 2008 was $5,967,000 or ($0.08) per share compare to a loss of $9,025,000 ($0.13) per share for the same period in 2007.
