I have 2,300 shares of Hemispherx Biopharma and my Stop-Loss Order for HEB is $1.25. The stock fell down to $1.31 before closing up at $1.45 last Friday.
After missing out on DNDN and VNDA I jumped into HEB in early May with the hope of catching lighting. My plan was to cash out after FDA approval of Ampligen on May 25th and invest heavily into stocks like CTIC, PFE, LVS, F and HGSI. As you can see, that plan didn't work out as we are still waiting for FDA approval.
To honest I was feeling relieved on Friday at the prospect of getting out of Hemispherx Biopharma. This stock has been nothing but frustration since May. It's not a stock that inspires a whole lot of confidence. I don't know if their CEO has been totally honest with us and the FDA's silence since May gives us nothing but doubts. This is not a biotech with other drugs in the pipeline. Their cheap-looking web site doesn't inspire much assurance.
The stock has attracted a large number of bashers and doubters. President Obama has declared Swine Flu (H1N1) a national emergency. We're in the Fall. People are getting sick and the FDA is still silent on Ampligen. What? They haven't gotten their "staffing" issues resolved yet? But the real problem just may be that U.S. regulations are just too cautious when it comes to approving new drugs.
The money I have tied up in HEB would buy lots of shares in more promising companies like AVXT, MCET, NEOL and VRAL.
On the other hand Ampligen could still get approved. I could have anywhere from $10,000 to $20,000 to play with afterwards. Or the wait could drag out into 2010. Or maybe it won't get approved.
Frustration.
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