Hemispherx Biopharma calls off licensing agreement with Esteve
Shares of Hemispherx Biopharma, Inc. (AMEX: HEB) sunk to a new 52-week low in pre-market trading this morning after the biopharmaceutical company said it will end its licensing agreement with Laboratorios Del Dr. Esteve, S.A.
The agreement, which gave Esteve the right to market Ampligen for CFS in Spain, Portugal and Andorra, was terminated on Esteve’s non-performance of certain contractually required clinical trials.
Hemispherx said in a press release, “negotiations were ongoing but amicable resolution could not be reached.”
Shares of Hemispherx Biopharma (HEB) tumbled 20.16%, or $0.26, to $1.03 in pre-market trading. Share of Hemispherx Biopharma have been trading in the range of $1.06 to $2.49 for the past 52 weeks.
