Hemispherx Biopharma’s Rollercoaster Ride
Most Hemispherx Biopharma (HEB) shareholders must be feeling sick after being on a rollercoaster ride an entire week. The stock went up and down and traded more than 90 million shares only to finish 1 cent below where it closed last Friday. Two months ago, barely 200,000 shares changed hands in a week’s time.
On Tuesday, the Company announced a $16 million public equity offering. Two investors purchased 11,906,976 common shares for $16 million in cash at $1.34375 per share. After last week’s $18.3 million equity offering, Hemispherx now has a nicely filled bank account.
This money can be put to good use to fund several research programs and additionally, it puts the Company in a much stronger position for negotiations with potential partners.
Excitement about the upcoming PDUFA date (May 25th) attracted a tremendous amount of new investors and day traders to HEB’s stock. To pour more oil on the fire, many big media outlets had their say on the stock after thoroughly researching the Company probably for about… 10 minutes.
Bottom line is, this is all speculation as nobody knows what the FDA will decide. We continue to believe that Ampligen stands a very fair chance of being approved by the FDA for the treatment of Chronic Fatigue Syndrome (CFS). However, bear in mind that the FDA’s decision may be postponed again if they need more time to research all data.
Photo credit omba_de
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