Hemispherx Biopharma's increased losses
Hemispherx Biopharma, has seen a loss for the year ended December 31, 2004 of $24,140,000 or $0.53 per share compared with losses of $14,770,000 or $0.42 per share for the same period in 2003. Non-cash accounting charges were a major factor in the 2004 and 2003 losses.
Hemispherx Biopharma, has seen a loss for the year ended December 31, 2004 of $24,140,000 or $0.53 per share compared with losses of $14,770,000 or $0.42 per share for the same period in 2003. Non-cash accounting charges were a major factor in the 2004 and 2003 losses.
Research and development costs were $3,842,000 during the year ended December 31, 2004 as compared with $3,150,000 for the same period in 2003. This represents an increase of $692,000 or 22% compared with 2003 primarily due to costs related to producing Alferon LDO for use in clinical trials and costs related to developing a more efficient bottling process for Alferon N Injections. The Phase III ME/CFS clinical trial was completed in August 2004. This double-blinded, placebo controlled trial included over 230 ME/CFS patients. The data collected during this time will serve as the basis for filing an NDA with the FDA. We plan to announce additional clinical results at upcoming medical meetings during 2005, including the international antiviral meetings.