NEW YORK, July 18, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Humanigen, Inc. (“Humanigen” or the “Company”) ( HGEN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Humanigen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 9, 2021, Humanigen issued a press release announcing 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.”
On this news, Humanigen’s stock price fell $7.14 per share, or 47.25%, to close at $7.97 per share on September 9, 2021.
Then, on July 13, 2022, Humanigen disclosed that lenzilumab had failed to show statistical significance on the primary endpoint of a clinical trial involving hospitalized COVID-19 patients.
On this news, Humanigen’s stock price fell $2.38 per share, or 79.6%, to close at $0.61 per share on July 13, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
