Stock Update (NYSEMKT:HEB): Hemispherx BioPharma, Inc Announces Final Approval of Securities Class Action Settlement
Hemispherx BioPharma, Inc (NYSEMKT:HEB) announced that the United States District Court for the Eastern District of Pennsylvania has issued an order granting final approval of a settlement of the securities class action, Frater v. Hemispherx Biopharma, Inc. A final settlement hearing was conducted on July 22, 2015. No Company funds were used to pay the settlement, the settlement was funded by the insurance company for Hemispherx. The settlement expressly is not an admission of fault or wrongdoing by Hemispherx or any of the individual defendants. Thomas K. Equels, General Counsel, stated: “Our team will be glad to have this class action behind us so that we can focus our time and resources on the important work of new drug development related to Ampligen® and the manufacturing and marketing of our FDA approved anti-viral Alferon®.” (Original Source)
Shares of Hemispherx Biopharma closed yesterday at $0.199. HEB has a 1-year high of $0.40 and a 1-year low of $0.17. The stock’s 50-day moving average is $0.21 and its 200-day moving average is $0.23.
Hemispherx Biopharma Inc is a specialty pharmaceutical company. It is engaged in the clinical development of new drug therapies based on natural immune system enhancing technologies for the treatment of viral and immune based chronic disorders.