PHILADELPHIA, Nov. 10, 2008 (GLOBE NEWSWIRE) -- Hemispherx Biopharma, Inc. (AMEX:HEB) announced its financial results for the fiscal quarter ended September 30, 2008. The net loss including non-cash expenses for this period was approximately $3,415,000 or ($0.05) per share compared to a loss of $5,718,000 or ($0.08) per share for the same period in 2007. This reduced net loss of $2,303,000 was primarily due to 1) a reduction in R&D costs due to successful filing of the Company’s Ampligen(r) New Drug Application (NDA) and designation that the application was “complete” for review purposes by the FDA; related R&D costs were down approximately $1,146,000 in 2008; and 2) G&A costs decreased $1,833,000 primarily due to lower stock compensation expense in 2008. The loss for the nine months ended September 30, 2008 was $9,382,000 or ($0.13) per share compared to a loss of $14,743,000 ($0.21) per share for the same period in 2007. Cash used in operating activities for the nine months ending September 30, 2008 decreased 35% compared to the same period in 2007.
