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October 02, 2001
Hemispherx Biopharma Announces Notice Of Warrant Expiration Date
Philadelphia, PA, Tuesday, October 02, 2001: Hemispherx Biopharma, Inc. (AMEX: HEB; HEBws) today announced that it had advised the AMEX and SEC that the Company's Class A redeemable warrants will expire and not be exercisable after the close of business on November 2, 2001, as publicly announced in August 2000.

Accordingly, the warrants will no longer be publicly traded after November 2, 2001. Prior to the close of business on November 2, 2001, each public warrant may be exercised to purchase one share of common stock at a price of $4.00.

Further information on exercise of the warrants may be obtained by contacting the warrant holder's broker, the Company or Continental Stock Transfer and Trust.

Hemispherx Biopharma, based in Philadelphia, is a pharmaceutical company engaged in the manufacture and global clinical development of new drug entities in the nucleic acid (NA) class for chronic viral diseases and disorders of the immune system including CFS, HIV and hepatitis. Its flagship products are Ampligen® - being developed for CFS and drug-resistant HIV – and polyandenur, being developed for hepatitis B and C. It is conducting Phase III trials in CFS and Phase IIb trials in HIV/AIDS. For more information, visit the company’s website at www.hemispherx.net.


William A. Carter, M.D., CEO & Chairman, Hemispherx Biopharma, Inc. (215) 988-0080
Dianne Will, Investor Relations, (518) 398-6222, Fax: (518) 398-6223
Robert Giordano, Institutional Investors, KCSA, (212) 682-6300, Fax: (212) 697-0910
HEB's Web Site: www.hemispherx.net

Information contained in this news release other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the strategies and operations of Hemispherx involve risks of competition, changing market conditions, changes in laws and regulations affecting these industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. Accordingly, actual results may differ materially from those in any forward-looking statements. Additionally, all the referenced investigational drugs and associated technologies of the company are experimental in nature and as such are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. The forward-looking statements represent the Company's judgement as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.