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May 15, 2002
Call Scheduled For Thursday, May 16, 2002 At 10:30 AM

Philadelphia, PA, Wednesday, May 15, 2002: Hemispherx Biopharma, Inc. (AMEX: HEB), a leading company in the experimental- stage development of immune based therapies primarily addressing the diseases of HIV AIDS and Chronic Fatigue Syndrome, announced today that it will be hosting a conference call on Thursday May 16, 2002 at 10:30 AM eastern Standard Time.

During the call the Company will discuss it’s results for the first quarter ending March 30th 2002. It will also discuss recent developments in the treatment of HIV AIDS as these developments relate to the Company’s technology and it will describe preparations the Company is making regarding the upcoming international AIDS conference in Barcelona Spain during the first week in July 2002.

In order to participate in this conference call, please call 888-843-7184 in the U.S. and Canada, and +1-773-756-4815 if outside those countries, and ask for the operator. Please give your name and verbal pass code which is 111333. It is suggested you please place your call no later then 10:20Am on Thursday morning. To submit questions to be addressed during the conference call, email wstanton@mrb-ir.com or fax them to (212) 230 – 1734.

Hemispherx Biopharma, based in Philadelphia, is a bio-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, HIV, CFS and Hepatitis. Its platform technology includes large and small agent components for potential treatment of various chronic viral infections. For more information visit the company's Web site 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, MRB, (212) 230-1727, Fax: (212) 230-1734
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 including financial 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 judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.