HEMISPHERX BIOPHARMA AUTHORIZES REPURCHASE OF 200,000 ADDITIONAL SHARES OF PUBLICLY TRADED COMMON STOCK
PHILADELPHIA, Oct 8, 1999 /PRNewswire via COMTEX/ -- Hemispherx
Biopharma, Inc. (Amex: HEB, HEBws) announced today that its Board of
Directors has authorized the repurchase of up to 200,000 additional
shares of the Company's publicly traded common stock.
Under the authorization, the shares may be purchased on the open market
or in privately negotiated transactions until December 10, 1999. The
actual number of shares purchased will be held in the Company's
Treasury and will thereafter be used for potential acquisitions or
other corporate opportunities.
Dr. William A. Carter, Chairman and Chief Executive Officer of
Hemispherx Biopharma, said, "This share buyback program is consistent
with our efforts to create shareholder value and reflects our
confidence in the future. Even while we repurchase shares, we continue
to maintain sufficient resources to fund internal expansion and pursue
strategic alliances when appropriate. Yesterday's announcement
concerning further expansion of our unique CFS treatment programs
underscores our high confidence in successful market development and
near term growth. Thus, our own securities represent an attractive
investment to us."
Hemispherx Biopharma, which is based in Philadelphia, is a
pharmaceutical company engaged in the manufacture and global clinical
development of new drug entities in the nucleic acid (NA) class for
chronic viral diseases and disorders of the immune system including
CFS, HIV and hepatitis. Its flagship products are Ampligen(R) - being
developed for CFS and drug-resistant HIV - and polyadenur, being
developed for hepatitis B and C.
Contact(s):
William A. Carter, M.D., CEO & Chairman, HEMISPHERX BIOPHARMA, INC.
(215) 988-0080
William Jenks, Institutional Investors, (212) 232-2222,
Fax: (212) 232-3232
Harris Freedman, Investor Relations (212) 572-0763, Fax: (212) 572-0764
HEB's Web Site: hemispherx.com
Information contained in this news release other than historical
information, should be considered forward-looking and is subject to
various risk factors and uncertainties. For instance, the strategies
and operations of HEMISPHERX involve risks of competition, changing
market conditions, changes in laws and regulations affecting these
industries and numerous other factors discussed in this release and in
the Company's filings with the Securities and Exchange Commission.
Accordingly, actual results may differ materially from those in any
forward-looking statements.
SOURCE Hemispherx Biopharma, Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
CONTACT: William A. Carter, M.D., CEO & Chairman, Hemispherx Biopharma,
Inc., 215-988-0080; or William Jenks, Institutional Investors, 212-232-2222,
or fax, 212-232-3232, or Harris Freedman, Investor Relations, 212-572-0763,
fax 212-572-0764, both for for Hemispherx Biopharma
/Web Site: hemispherx.com
(HEB)
GEOGRAPHY: Pennsylvania
INDUSTRY CODE: MTC
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