WAYNE, Pa., Dec. 28, 2012 /PRNewswire/ -- Ryan & Maniskas, LLP (
www.rmclasslaw.com/cases/heb) announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of Hemispherx Biopharma, Inc. ("Hemispherx" or the "Company") (NYSE MKT: HEB) common stock during the period between March 19, 2012 and December 17, 2012, inclusive (the "Class Period").
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For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/heb.
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."
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