Hemispherx to raise $16M in public offering

US drugmaker Hemispherx Biopharma has agreed to sell up to $16.0 million, at $1.34 per share, in common stock and warrants in a  registered offering to two institutional investors.

Investors will also receive warrants to purchase 4,167,442 shares of  Hemispherx' common stock. The warrants have an exercise price of $1.31  per share and are exercisable at any time after the closing of the  transaction and before the fifth anniversary of such initial issuance  date. The firm plans to use the net proceeds primarily to fund  commercialization of Alferon N.