From the Wires
Faruqi & Faruqi, LLP Encourages Investors Who Suffered $50,000 or More In Losses Investing In Hemispherx Biopharma, Inc. To Contact The Firm
By: PR Newswire
Dec. 28, 2012 08:05 PM
NEW YORK, Dec. 28, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Hemispherx Biopharma, Inc. ("Hemispherx" or the "Company") (NYSE: HEB).
The investigation focuses on whether the Company and its executives violated federal securities laws by issuing a series of materially false and misleading statements regarding the efficacy of Hemispherx's lead product, Ampligen(R) ("Ampligen"), a drug intended for the treatment of Myalgic Encephalomylitis/Chronic Fatigue Syndrome.
On December 18, 2012, the FDA published a Staff Report concerning Ampligen's safety and efficacy. The report concluded that the Company's studies were "ill-defined and invalid" with signals of efficacy that were inconsistent between clinical trials, and based on the limited quality of the data, "it is difficult to draw conclusions regarding potential safety signals," but the "review identified nine potential safety concerns associated with Ampligen." As a result of this disclosure, Hemispherx shares declined $0.276 per share or nearly 43%, to close at $0.368 per share on December 18, 2012.
Request more information now by clicking here: www.faruqilaw.com/HEB. There is no cost or obligation to you.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
SOURCE Faruqi & Faruqi, LLP
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