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Lawsuit filed for Investors in shares of Humanigen, Inc. (NASDAQ: HGEN) over alleged Violations of Securities Laws

09-08-2022 03:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Humanigen, Inc. (NASDAQ: HGEN) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Humanigen, Inc. (NASDAQ: HGEN) shares over alleged securities laws violations.

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 mail@shareholdersfoundation.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."
Shares of Humanigen, Inc. (NASDAQ: HGEN) declined from $17.18 per share on September 2, 2021, to $6.00 per share on September 28, 2021.

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.
Shares of Humanigen, Inc. (NASDAQ: HGEN) declined to as low as $0.20 per share on September 6, 2022.

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.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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