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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported)<BR>
September 17, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
HEMISPHERX BIOPHARMA, INC.<BR>
(Exact name of registrant as specified in its charter)</P>

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<BR STYLE="mso-special-character: line-break">
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 0; padding-left: 0; text-align: center">Delaware</TD>
    <TD STYLE="width: 35%; padding-right: 0; padding-left: 0; text-align: center">0&#45;27072</TD>
    <TD STYLE="width: 32%; padding-right: 0; padding-left: 0; text-align: center">52-0845822</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(state or other juris-</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(Commission</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">diction of incorporation)</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">File Number)</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(Identification No.)</TD></TR>
</TABLE>
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<BR STYLE="mso-special-character: line-break">
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; padding-right: 0; padding-left: 0; text-align: center">1617 JFK Boulevard, Philadelphia, Pennsylvania</TD>
    <TD STYLE="width: 33%; padding-right: 0; padding-left: 0; text-align: center">19103</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(Address of principal executive offices)&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
<BR>
Registrant's telephone number, including area code: (215) 988-0080</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">___________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Section 1 &ndash; Registrant&rsquo;s Business and Operations</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See Item 5.02 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Section 5 &ndash; Corporate Governance and Management</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 17, 2012, the Company&rsquo;s
Board of Directors (&ldquo;Board&rdquo;) approved the recommendation of the Compensation Committee for the issuance of options
to purchase 30,000 shares to Dr. Ralph C. Cavalli, Vice President, Quality Control; 20,000 shares to Victoria Scott, Associate
Director, Quality Control; and 10,000 shares to Diane Young, Clinical Project Manager, in appreciation of their continued effort
related to the Ampligen&reg; NDA. The Options granted to each of these employees will have an exercise price of $0.85, 110% of
the closing price of the Company&rsquo;s Common Stock <FONT STYLE="color: black">on the NYSE MKT as of September 17, 2012, vest
one year after issuance, contain a cashless exercise provision, have a ten year term and to be issued from the Company&rsquo;s
2009 Equity Incentive Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Effective January 1, 2009, the Board had
established a Bonus Pool (the &ldquo;Pool&rdquo;) compensation program as an element of 2009&rsquo;s Employee Wage Or Hours Reduction
Program in the event of FDA Approval (&ldquo;Approval&rdquo;) of Ampligen&reg;. Pursuant to the Pool, a bonus will be awarded to
each employee of record at January 1, 2009 at a pretax sum of 30% in wages, calculated on his or her base salary per annum compensation
at the time of the Approval and awarded within three months of Approval. Participants who terminate their employment prior to the
Approval will not qualify for this bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 17, 2012, the Board approved
the recommendation of the Compensation Committee to amend the Pool to authorize a discretionary bonus for current employees and
independent contractors who are not presently covered by the Pool. Pursuant to this amendment, the following Executive Officers
will be covered: Thomas K. Equels (General Counsel), Robert Dickey IV (Senior Vice President) and Dr. Ralph C. Cavalli.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    <TD COLSPAN="3">HEMISPHERX BIOPHARMA, INC.</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; width: 40%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">September 21, 2012</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0; text-decoration: none; border-bottom: Black 1pt solid">/s/ William A. Carter</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">William A. Carter M.D.,</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0">Chief Executive Officer</TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 17, 2012
HEMISPHERX BIOPHARMA, INC.
(Exact name of registrant as specified in its charter)
Delaware
0-27072
52-0845822
(state or other juris-
(Commission
(I.R.S. Employer
diction of incorporation)
File Number)
(Identification No.)
1617 JFK Boulevard, Philadelphia, Pennsylvania
19103
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (215) 988-0080
___________________________________________
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
1
Section 1 – Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
See Item 5.02 below.
Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 17, 2012, the Company's
Board of Directors ("Board") approved the recommendation of the Compensation Committee for the issuance of options
to purchase 30,000 shares to Dr. Ralph C. Cavalli, Vice President, Quality Control; 20,000 shares to Victoria Scott, Associate
Director, Quality Control; and 10,000 shares to Diane Young, Clinical Project Manager, in appreciation of their continued effort
related to the Ampligen® NDA. The Options granted to each of these employees will have an exercise price of $0.85, 110% of
the closing price of the Company's Common Stock
on the NYSE MKT as of September 17, 2012, vest
one year after issuance, contain a cashless exercise provision, have a ten year term and to be issued from the Company's
2009 Equity Incentive Plan.
Effective January 1, 2009, the Board had
established a Bonus Pool (the "Pool") compensation program as an element of 2009's Employee Wage Or Hours Reduction
Program in the event of FDA Approval ("Approval") of Ampligen®. Pursuant to the Pool, a bonus will be awarded to
each employee of record at January 1, 2009 at a pretax sum of 30% in wages, calculated on his or her base salary per annum compensation
at the time of the Approval and awarded within three months of Approval. Participants who terminate their employment prior to the
Approval will not qualify for this bonus.
On September 17, 2012, the Board approved
the recommendation of the Compensation Committee to amend the Pool to authorize a discretionary bonus for current employees and
independent contractors who are not presently covered by the Pool. Pursuant to this amendment, the following Executive Officers
will be covered: Thomas K. Equels (General Counsel), Robert Dickey IV (Senior Vice President) and Dr. Ralph C. Cavalli.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HEMISPHERX BIOPHARMA, INC.
September 21, 2012
By:
/s/ William A. Carter
William A. Carter M.D.,
Chief Executive Officer
3