This doesn't seem to be new. If you go to the Hemispherx website all that's really being announced right now is this $5 million loss. (of course negative cashflow is to be expected for a biotech firm awaiting approvals and they're not without irons in the fire, including in Canada.)
Hemispherx Biopharma Announces Corporate Progress and Financial Results for the Six Months Ended June 30, 2017
The Company has Generated Revenues and Advanced in R&D for Intranasal Ampligen and in Immuno-Oncology
Conference Call Scheduled for Tuesday, August 15th at 1:00 PM EDT
PHILADELPHIA, Aug. 15, 2017 (GLOBE NEWSWIRE) -- Hemispherx Biopharma (NYSE MKT:HEB): This quarter we see Ampligen® potentially repurposed beyond the single indication of Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (ME/CFS), to maximize the potential of this proven immunotherapeutic in indications in which a healthier and more stimulated immune system can play an important role in successful outcomes. We have made Ampligen® available in an Early Access Program for pancreatic cancer patients, looking at quality of life measures and collecting immunological data which we hope will help direct research into combinational therapies for this and other lethal solid tumors. We also see future opportunities for Ampligen® as a potential immune-enhancing vaccine adjuvant. As we recently announced, we believe that the intranasal human safety study of Ampligen® plus FluMist® known as AMP-600 indicates that intranasal Ampligen® is generally well-tolerated. Finally, this quarter we have made significant steps toward a potential New Drug Application in Canada for ME/CFS by working with patient advocacy groups and doctors, led by Millions Missing Canada.
Hemispherx announced its financial results for the six months ended June 30, 2017. The net loss was approximately $5,014,000 or ($0.19) per share as compared to a net loss of $3,467,000 or ($0.16) per share for the same six month period in 2016. Cash, cash equivalents and marketable securities were approximately $3,211,000 at June 30, 2017 as compared to $5,868,000 as of December 31, 2016.
Revenues from our Ampligen® Cost Recovery Program were $213,000 and $15,000 for the three months ended June 30, 2017 and 2016, respectively, primarily due to our Early Access Program, through our agreement with MyTomorrows, designed to enable access of Ampligen® to pancreatic cancer patients in the Netherlands. The increase in revenues of $198,000 is an increase of 1,320%. Revenues from our Ampligen® Cost Recovery Program were $297,000 and $54,000 for the six months ended June 30, 2017 and 2016, respectively. The increase in revenues of $243,000 is an increase of 450%.
We intend to continue our pursuit of profitable self-sufficiency while seeking FDA approval of Ampligen® in the United States and rapid expansion of our European operations.