Hemispherx announces $75 million at-the-market offering of stock

Proceeds will be used to fund commercialization of two products

By Angela McDaniels

Tacoma, Wash., July 23 - Hemispherx Biopharma, Inc. plans to sell up to $75 million of common stock from time to time through an at-the-market offering.

The stock will be sold at varying prices through agent Maxim Group LLC, according to a 424B5 filing with the Securities and Exchange Commission.

The company plans to use the proceeds to fund the commercialization of Alferon and Ampligen and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, and the repayment, refinancing, redemption or repurchase of debt or capital stock.

The company's stock closed at $0.33 (NYSE: HEB) on Monday.

Hemispherx is a specialty pharmaceutical company based in Philadelphia. Alferon is used for genital warts, and the commercial focus for Ampligen is as a treatment for chronic fatigue syndrome and as a vaccine enhancer for influenza and cancer treatments.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.