A lawsuit was filed on behalf of investors in Humanigen, Inc. (NASDAQ:HGEN) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/15/2022 -- An investor, who purchased shares of Humanigen, Inc. (NASDAQ: HGEN), filed a lawsuit over alleged violations of Federal Securities Laws by Humanigen, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Humanigen, Inc. (NASDAQ: HGEN) have certain options and for certain investors are short and strict deadlines running. Deadline: October 25, 2022. NASDAQ: HGEN investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Burlingame, CA based Humanigen, Inc., a clinical stage biopharmaceutical company, develops a portfolio of immuno-oncology and immunology monoclonal antibodies in the United States.
On September 9, 2021, Humanigen, Inc. announced that "the U.S. FDA has declined its request for emergency use authorization of lenzilumab to treat newly hospitalized COVID-19 patients." Humanigen advised investors that "[i]n its letter, FDA stated that it was unable to conclude that the known and potential benefits of lenzilumab outweigh the known and potential risks of its use as a treatment for COVID-19."
Then, on July 13, 2022, Humanigen disclosed that lenzilumab had failed to show statistical significance on the primary endpoint of the ACTIV-5/BET-B study.
The plaintiff claims that between May 28, 2021 and July 12, 2022, the Defendants made false and/or misleading statements and/or failed to disclose that lenzilumab was less effective in treating hospitalized COVID-19 patients than Defendants had represented, that as a result, the FDA was unlikely to approve the lenzilumab EUA and the ACTIV-5/BET-B study was unlikely to meet its primary endpoint, that accordingly, lenzilumab's clinical and commercial prospects were overstated, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Humanigen, Inc. (NASDAQ: HGEN) have certain options and should contact the Shareholders Foundation.
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