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Biotech / Medical : HEB, Hemispherx Biopharma (AMEX)NEW -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Underwood who wrote (729)	12/16/1999 4:20:00 PM
From: LORD ERNIE	Read Replies (1) \| Respond to of 857

Down 10% after big news????

To: Gerald Underwood who wrote (729)	4/5/2000 5:45:00 AM
From: LORD ERNIE	Read Replies (1) \| Respond to of 857

last quarter results Hemispherx Announces Fourth Quarter Results PHILADELPHIA, Mar 30, 2000 /PRNewswire via COMTEX/ -- Hemispherx Biopharma, Inc. (Amex: HEB; HEBws) today announced its financial results for the fourth quarter ended December 31, 1999. For the 1999 fourth quarter, the net loss (including non-cash expenses) was $1,868,162 or 0.07 per share, compared with a net loss of $2,564,915 or 0.10 per share for 1998. Net loss per share fell 30% versus that reported for the corresponding quarter of the prior year. The net loss for all of 1999 was $9,201,227 or 0.35 compared with a net loss in 1998 of $7,324,093 or 0.32 per share. The net loss for 1998 and 1999 includes non-cash stock compensation expenses of $794,797 and $1,520,650 respectively. The non-cash stock compensation expense for 1999 was 16.5% of the net loss, reflecting the estimated value of warrants to purchase common stock being granted to non-employees of the Company for various services provided. Revenues for the 1999 fourth quarter from the Company's cost recovery expanded access treatment Clinical Programs increased 100% over the fourth quarter for 1998. In total, the annual revenues produced by the Treatment Programs underway in North America and Europe increased approximately 69% over the previous year. Research and Development costs decreased on a quarter-to-quarter basis primarily due to reaching the targeted levels of drug inventory build-up. The 1999 fourth quarter spending of $793,208 primarily reflects costs associated with the ME/CFS clinical programs now underway being conducted in collaboration with two of the Company's strategic partners, Gentiva, Inc. (formerly Olsten Health Care), and Workwell, Inc. General and Administrative costs decreased $242,087 on a quarter-to-quarter basis due to lower spending for legal fees, public relations and other general expenses. Stock compensation (non-cash) expense was $222,100 higher in the fourth quarter of 1999 due to increased utilization of consultants for various services rendered. Dr. William A. Carter, Chairman and Chief Executive Officer of Hemispherx, reported that "our Company continues to expand its commitment to drug developmental programs in chronic viral disease, such as by our recently announced Letter of Intent to invest in Chronix Biomedical and our continued funding of California Institute of Molecular Medicine, both outstanding technologically-driven companies on the West Coast. These investments are expected to launch us into the next level, namely the exciting frontier of therapy directed at the actual human genomic level. Looking at our sector as a whole with more than 1,300 participating companies, Hemispherx's ability to conduct advanced Phase III clinical studies in major untapped pharma markets, against the backdrop of successful expanded access, cost recovery treatment programs, represents, we believe, a high standard of overall performance. In addition, the ongoing unsolicited conversion of publicly-traded warrants into the underlying common stock has further strengthened our balance sheet and supported the ongoing product technology diversification program which should enhance overall shareholder value." Hemispherx is a globally-operating, biopharmaceutical company engaged in the manufacture and world-wide clinical development of new drug entities in the nucleic acid (NA) class for viral diseases and disorders of the immune system designed to spare the skyrocketing costs of long term medical care for the chronically ill. 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.