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Hemispherx Biopharma awarded grant for Ampligen, Alferon development programs

November 11, 2017

Research and development expenditures increased in the first quarter of Fiscal 2011 by $1 million over the same period in Fiscal 2010. This increase relates to ongoing expenditures for the UrocidinTM clinical development program, as well as development programs in Animal Health. The majority of research and development costs can be attributed to the ongoing Phase III clinical program for the Company's UrocidinTM bladder cancer treatment and to an increased focus on the development of Animal Health reproduction products and vaccines. Starting in February, 2010, Endo assumed financial responsibility for the external costs of clinical activities as they relate to UrocidinTM, and the Company is refocusing its development activities toward MCC for other indications.

The basic and fully-diluted net loss per share for the first quarter of Fiscal 2011 was ($0.05) compared to a net loss per share of ($0.09) in the same quarter in Fiscal 2010. Total common shares outstanding at September 30, 2010 were 80,499,679, as compared to 71,959,642 for the corresponding period in Fiscal 2010.

2010 Annual Meeting of Shareholders

At the Annual Meeting of Shareholders held yesterday afternoon in Belleville, Ontario, shareholders voted to elect the following individuals as members of the Board of Directors:

Dr. Stanley AlkemadeAlbert BeraldoDr. Margaret CunninghamDr. James JohnsonGraeme McRaeNick PhotiadesLyle Vanclief

Dr. Armen Aprikian remains an Observer on the Board. Also at yesterday's meeting, the shareholders voted to appoint Ernst & Young, LLP, Chartered Accountants, as auditors of the Corporation.

Source: BIONICHE LIFE SCIENCES INC.