TheStreet posted today the following article concerning Hemispherx Biopharma. Still I think this is a good trade but with news about Human Genome the Biotech Industry is under huge pressure to reach expectations and everyone's looking for a quick buck. Hold onto those investments people. The market fluctuates, you just have to ride it out sometimes. But many buy and sell on the Clinical Trial news and I can't blame them. However, I still say Long on HEB. I like companies that have more than one option in their pipeline. Anyways, shares plunged today and I say its still a good buy. Invest with caution as anything can happen. Diversify and spread your stocks out so you don't loose everything is things go sour. Here's the news on HEB today.
Updates on Hemispherx Conference Call Fail to Sooth Investors (HEB)
Selling in shares of Hemispherx BioPharma (AMEX: HEB) has intensified since 10am ET, when the company began a teleconference to provide updates on its recent Influenza research initiatives. After opening today's trading session down about 5%, the stock has now fallen more than 27%, most recently trading at $2.43. Notably, Hemispherx shares are seeing extremely heavy volume today, already trading nearly 26 million times, which compares to the stock's average daily volume of just 7 million shares.
Before this morning's decline, shares of Hemispherx jumped more than 55% since the beginning of this week, when the company first announced that it would be holding today's call.
On the call, Hemispherx said it is target 25-50 million doses of Ampligen per year, as well as at least 100 million doses of Alferon LDO at capacity, two initiatives which are expected to cost the company about $10 million. The company said that a continually mutating flu virus is the main reason for concern related to this pandemic. Hemispherx also noted that is expects to see several more complete Ampligen trials during the month of August.