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Dec 20th: High Noon for Ampligen! FDA Advisory Committee Decides Ampligens fate in live webcast

Firestormm

Senior Member
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5,055
Location
Cornwall England
Class Action Deadline:http://finance.yahoo.com/news/rosen-law-firm-reminds-hemispherx-043000708.html

NEW YORK, Jan. 4, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds investors of the important February 22, 2013 lead plaintiff deadline in the class action filed on behalf of investors who purchased the securities of Hemispherx Biopharma, Inc., (HEB) from March 19, 2012 through December 17, 2012.

...The Complaint asserts violations of the federal securities laws against Hemispherx and its officers and directors for issuing false and misleading information about its lead drug candidate Ampligen. Specifically, that Hemispherx misstated the safety and efficacy of Ampligen, and touted purportedly positive results from Ampligen's clinical trials.

On December 18, 2012, the FDA published a staff report concluding that the Company's studies were "ill-defined and invalid" with signals of efficacy that were inconsistent between clinical trials, and based on the limited quality of the data, "it is difficult to draw conclusions regarding potential safety signals," but the "review identified nine potential safety concerns associated with Ampligen." The Complaint alleges that as a result of this adverse information, Hemispherx stock price dropped and investors have been damaged....

More about the deadline for the class action: http://finance.yahoo.com/news/shareholder-alert-pomerantz-law-firm-195159182.html

NEW YORK, Jan. 11, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Hemispherx Biopharma, Inc. ("Hemispherx" or the "Company") (HEB) and certain of its officers...

...This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder...

Hemispherx is a biopharmaceutical company that focuses on the development of nucleic acids to enhance the natural anti-viral defense systems of the human body. The Company's lead product, Ampligen(R) ("Ampligen"), is undergoing clinical trials for the treatment of Myalgic Encephalomylitis/Chronic Fatigue Syndrome.

The Complaint alleges that throughout the Class Period, the Company made a host of materially false and misleading statements regarding the safety and efficacy of Ampligen, and touted purportedly positive results from Ampligen's clinical trials. As a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
On December 18, 2012, the FDA published an FDA staff report concerning Ampligen's safety and efficacy.

Specifically, the report concluded that the Company's studies were "ill-defined and invalid" with signals of efficacy that were inconsistent between clinical trials, and based on the limited quality of the data, "it is difficult to draw conclusions regarding potential safety signals," but the "review identified nine potential safety concerns associated with Ampligen."
As a result of this disclosure, Hemispherx shares declined $0.276 per share or nearly 43%, to close at $0.368 per share on December 18, 2012.

As a result of Company's wrongful acts and omissions, and the precipitous decline in the market value of the Company's securities, Class members have suffered significant damages...

Also of note I thought:http://biz.yahoo.com/e/130111/heb8-k.html

Form 8-K for HEMISPHERX BIOPHARMA INC
11-Jan-2013
Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 10, 2013, the Compensation Committee of the Company's Board of Directors (the "Committee") granted year-end 2012 performance bonus for the Senior Management Team.

Upon analysis of publicly-traded Peer Group companies, the Committee observed that, for 2009, 2010 and 2011, Hemispherx' Officer Compensation Expense as compared to various Balance Sheet ratios were consistently less than that of the average of the Peer Group.

The Committee in light of pre-established individual and Company-wide goals and objectives, that included the continued productive interaction with the FDA concerning issues necessary for approval of Ampligen(R) for Chronic Fatigue Syndrome, evaluated the performance of each key executive in order to determine respective annual incentive opportunities considering base salary and fees, short and long-term incentive opportunity and any special/supplemental benefits or payments.

Based upon all of the foregoing, the Committee determined that the following Performance Bonuses should be granted in 2012 to the following NEO, along with others:

1. At the rate of 25% of their respective 2012 year-end base compensation:
i. Dr. William Carter (Chairman, CEO, President & Chief Scientific Officer) for $241,906;
ii. Thomas Equels (Vice Chairman, Secretary & General Counsel) for $129,500;
iii. Charles Bernhardt (CFO & Chief Accounting Officer) for $58,275;
iv. Dr. David Strayer (Medical Director and Chief Medical Officer) for $68,008; and
2. At the rate of 20% of their respective 2012 year-end base compensation:
i. Dr. R. Christopher Cavalli (Vice President of Quality Control) for $37,351.

Just catching up with stuff after a break.
 
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Based upon all of the foregoing, the Committee determined that the following Performance Bonuses should be granted in 2012 to the following NEO, along with others:
1. At the rate of 25% of their respective 2012 year-end base compensation:
i. Dr. William Carter (Chairman, CEO, President & Chief Scientific Officer) for $241,906;
ii. Thomas Equels (Vice Chairman, Secretary & General Counsel) for $129,500;
iii. Charles Bernhardt (CFO & Chief Accounting Officer) for $58,275;
iv. Dr. David Strayer (Medical Director and Chief Medical Officer) for $68,008; and
2. At the rate of 20% of their respective 2012 year-end base compensation:
i. Dr. R. Christopher Cavalli (Vice President of Quality Control) for $37,351.
Small Pharma is so much more ethical than Big Pharma doncha think ?

IVI