Rochester,NY 7/13/2009 11:11:43 PM
Mid Morning Stock Report - HEB - Biotech Stock Mailbag: Spectrum - Sourced WhisperFromWallStreet.com
Hemispherx Biopharma, Inc.
Hemispherx Biopharma, Inc. HEB
"Spectrum Pharmaceuticals(SPPI Quote) raised $21 million right before the FDA is supposed to decide on the approval of Zevalin. That's a bad sign, right?"
Normally, I'd agree, but in this case, I'd say that Spectrum's management was taking rightful advantage of what has been a lucky, albeit fundamentally unjustified, run-up in the company's stock price since May.
In that time, the stock has jumped from $2.50 to almost $8. Management would be criminally negligent if it didn't pounce on the opportunity to sell stock and raise cash. So, I say bravo, Spectrum.
ABOUT - Hemispherx Biopharma, Inc.
Hemispherx Biopharma, Inc., a biopharmaceutical company, engages in the clinical development, manufacture, marketing, and distribution of new drug therapies for the treatment of viral and immune based chronic disorders. The company's products include Alferon N Injection for the treatment of genital warts; and Ampligen, an experimental drug that is in human clinical development for the treatment of myalgic encephalomyelitis/chronic fatigue syndrome, HIV, renal cell carcinoma, and malignant melanoma. Its products also comprise Alferon LDO, a low-dose, oral liquid formulation of natural alpha interferon for influenza and viral diseases, which is in the early stage of development; and Oragens for the treatment of viral diseases and disorders of the immune system. Hemispherx Biopharma, Inc. was founded in 1990 and is headquartered in Philadelphia, Pennsylvania.
Last Trade: 2.03
Day's Range: 1.95 - 2.10
52wk Range: 0.25 - 4.54
Volume: 1,348,029
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