Hemispherx Biopharma, Inc. (AMEX: HEB) is a biopharmaceutical company focused on the manufacture and clinical development of new drug entities designed to treat viral and immune-based disorders. Hemispherx’s flagship products include Alferon N Injection® and the experimental immunotherapeutics/antivirals Ampligen® and Oragens®.
The company’s platform technology includes large and small agent components for potential treatment of various viral infections. Hemispherx’s core intellectual property estate consists of more than 100 patents covering various forms of double stranded (ds) RNA and their fields of therapeutic application, a fully commercialized product (Alferon N) and GMP certified manufacturing facilities for its novel pharma products.
Hemispherx is currently engaged in broad-based ongoing experimental studies assessing the efficacy of their products Ampligen®, Alferon N Injection® and Alferon LDO® against influenza viruses as an adjuvant single agent antiviral with the Defence R&D Canada, the National Institute of Infectious Diseases in Tokyo, the Princess Margaret Hospital in Hong Kong and various research affiliates of the National Institutes of Health in the United States.
In the company’s most recently reported quarter, a 29% reduction in net loss and a nearly 10 fold increase in cash/cash equivalents was recorded. The net loss reduction was a result of lower R&D and G&A expenses, while the substantial increase of cash/cash equivalents reflects the net proceeds of two equity placements as well as an equity financing agreement. With $62 million in total current assets and only $1.4 million in total current liabilities, the company maintains a very strong balance sheet.