On August 15, 2016 Hemispherx Biopharma (NYSE MKT: HEB) reported its financial results for the six months ended June 30, 2016. The net loss was approximately $3,467,000 or $(0.01) per share as compared to a net loss of $8,290,000 or ($0.04) per share for the same six month period in 2015 (Filing, Q2, Hemispherx Biopharma, 2016, AUG 15, 2016, View Source [SID:1234514609]). Cash, cash equivalents and marketable securities were approximately $6,512,000 at June 30, 2016 as compared to $8,910,000 as of December 31, 2015. The Company also has $1,750,000 of restricted cash which is designated for litigation settlement.

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Hemispherx Biopharma has made changes to its senior management team and has implemented austerity measures which included the reduction of executive compensation and elimination of non-essential contractors and personnel. These measures have resulted in a significant reduction in costs and expenses. The company is now focusing on commercial success by seeking co-development partners and working closely with the research and regulatory communities to bring disease fighting technologies to the world.