HEB, Hemispherx Biopharma (AMEX)NEW Message Board

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Biotech / Medical : HEB, Hemispherx Biopharma (AMEX)NEW

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To: afrayem onigwecher who wrote (769)	5/21/2003 6:45:52 PM
From: StockDung	of 857

Hemispherx draws SEC inquiry over acquisition NEW YORK, May 21 (Reuters) - Hemispherx Biopharma Inc. <HEB.A> said securities regulators have launched an informal inquiry into the way it accounted for the purchase of a distressed drug company. Hemispherx, which has claimed for many years that its experimental drug, Ampligen, could be an effective treatment for diseases ranging from cancer to AIDS, disclosed the inquiry in regulatory filing late on Tuesday. The probe marks the first time Hemispherx has caught the eye of the Securities and Exchange Commission, which is questioning the way the company valued inventory it received with its acquisition of New Brunswick, New Jersey-based Interferon Sciences Inc. in March. William Carter, chief executive of Hemispherx, said the issue "is a tempest in a teapot" over a "rarified accounting point." He said "we are a hundred percent sure we are right." Hemispherx, which was formed 38 years ago, does not have any products on the market. 05/21/03 17:49 ET

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