In the wake of the FDA’s rejection of the New Drug Application for Ampligen, Hemispherx (HEB) has agreed to be acquired by Cel-Sci (CVM) in an all-stock deal.
There will be no shareholder vote, but the merger has been approved by the Board of Directors of both companies.
A member of CVM’s BoD who asked to remain anonymous because he was not authorized to speak publicly said:
The merged company will be called Cel-Scam BioSpherix. It will trade under the Nasdaq symbol ‘CSBS’.