.…Capital Structure Doubles and Company reconfirms its Year 2003 Targets
…. Present Management Re-elected by Large Majority
Philadelphia, PA, Monday, September 15, 2003: Hemispherx Biopharma, Inc. (AMEX: HEB) reported today that at the Annual Meeting held on September 10, 2003 the Company expressed confidence in accomplishing its Year 2003 Targets and reported the results of the shareholders vote.
Shareholders of record as of July 14, 2003 were entitled to vote on the election of Directors, the ratification of the selection of the Company’s independent auditor, BDO Seidman and for an increase in the authorized shares of common stock. The shareholder voting results were:
Total shares voted: 27,003,653 out of 35,821,275 eligible to vote.
Election of Directors:
William A. Carter, M.D. 22,344,867 4,658,786
Richard C. Piani, Esq. 24,899,018 2,104,635
Ransom W. Etheridge, Esq. 22,942,478 4,061,175
William M. Mitchell. Ph.D., M.D. 23,903,718 3,099,935
Iraj-Eqhbal Kiani, Ph.D. 24,269,933 2,733,720
Ratification of the selection of BDO Seidman, LLP, as independent auditors of Hemispherx Biopharma, Inc. for the year ending December 31, 2003.
For: 25,033,555 Against: 1,960,625 Abstain: 9,473
Amend the Company’s Certificate of Incorporation to increase the authorized shares of common stock from 50,000,000 to 100,000,000.
For: 24,695,036 Against: 2,298,867 Abstain: 9,750
The Company thanks its shareholders for this vote of confidence in management and in the ongoing process for meeting our Year 2003 Targets, being; developing the commercialization of Alferon N Injection® for genital HPV in the US, securing further licensing arrangements for the Ampligen® program in Europe, completion of the Phase III clinical trial with the experimental compound Ampligen® in Chronic Fatigue Syndrome (CFS), finalization of the regulatory strategy for an NDA filing, expansion of the ongoing Phase IIb clinical studies for HIV, as well as further development of the Company’s program in SARS and West Nile Virus. Details of a new program focusing on defense against bioterrorism agents (Biodefense) utilizing research conducted under the auspices of governmental agencies were presented, together with a list of international collaborators.
Hemispherx Biopharma, based in Philadelphia, is a biopharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of viral and immune-based chronic disorders. Its flagship products include Alferon and the experimental immunotherapeutics/antivirals Ampligen and Oragens. These novel proteins, approved for a category of STD infection, and experimental nucleic acids are being developed for globally important chronic viral diseases and disorders of the immune system including HPV, HIV, CFS and Hepatitis. Its platform technology includes large and small agent components for potential treatment of various chronic viral infections. Hemispherx has approximately 400 patents comprising its core intellectual property estate, a fully commercialized product (Alferon N) and GMP certified manufacturing facilities for its novel pharma products. For more information please visit www.hemispherx.net
Hemispherx Biopharma, Inc.,
Dianne Will, Investor Relations
(518) 398-6222, Fax: (518) 398-6223
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 risk of competition, changing market conditions, change 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. Any specifically referenced investigational drugs and associated technologies of the company (including AmpligenÒ and Oragensä) 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. Clinical trials for other potential indications of the approved biologic AlferonÒ do not imply that the product will ever be specifically approved commercially for these other treatment indications including SARS. The Alferon® asset for overseas sales for a category of STD is currently being acquired by the Company as part of a multi-step purchase contract of inventory, intellectual property, commercial licenses and GMP approved facilities, which house the biological operations.