Hemispherx receives non-compliance notice from Amex

By Lisa Kerner

Erie, Pa., April 7 - Hemispherx Biopharma, Inc. said it received a notice on April 3 from the American Stock Exchange indicating the company is not in compliance with Sections 134 and 1101 of the Amex Company Guide and its listing agreement.

The non-compliance was as a result of Hemispherx's failure to file its annual report on form 10-K for the fiscal year ended Dec. 31 with audited financial statements on a timely basis.

Additionally, Hemispherx said the previously issued financial statements included in its forms 10-Q and forms 10-K for the periods ended from March 31, 2003 to Dec. 31, 2005 should not be relied upon.

According to the notice, Hemispherx must submit a plan by April 17 advising the Amex of any action it has taken, or will take, to bring it into compliance with the Amex requirements by June 2.

If the plan is accepted, the listing of Hemispherx's common stock will continue pursuant to an extension. However, if Hemispherx fails to provide an acceptable plan by April 17 or is not in compliance with the listing standards by June 2, the Amex will begin delisting proceedings.

Hemispherx will be included in a list of issuers not in compliance that is posted daily on the Amex web site.

Hemispherx said it intends to file its form 10-K for the fiscal year ended Dec. 31, 2005 after audited financial statements are available and to file amended quarterly reports on form 10-Q for the first, second and third quarters of 2005, and corresponding restated quarters for 2004, within 10 business days thereafter.

Hemispherx is a biopharmaceutical company based in Philadelphia.

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