Compounds having unique antiviral properties are prepared from medicinal mushroom mycelium, extracts and derivatives. The compositions are derived from Fomitopsis, Piptoporus, Ganoderma and blends of medicinal mushroom species and are useful in preventing and treating viruses including Orthopox viruses, influenza, avian influenza, Venezuelan Equine Encephalitis, yellow fever, West Nile, Dengue, New World and Old World arenaviruses, hantavirus, Rift Valley fever, sandfly fever, hantavirus, SARS, Rhinovirus and other viruses.