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Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit announces that a class action lawsuit has been filed against Humanigen, Inc. in the United States District Court for the District of New Jersey on behalf of all persons and entities who purchased or otherwise acquired Humanigen securities between May28, 2021 and July 12, 2022, both dates inclusive (the “Class Period”).
All investors who purchased the shares of Humanigen, Inc. and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you have incurred losses in Humanigen, Inc., you may, no later than October 25, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Humanigen, Inc.
Humanigen is a clinical-stage biopharmaceutical company that focuses on preventing and treating an immune hyper-response called “cytokine storm”, a physiological reaction in which the immune system causes an uncontrolled and excessive release of pro-inflammatory signaling molecules called cytokines, the sudden release of which in large quantities can cause multisystem organ failure and death. The Company’s lead product candidate is its proprietary antibody, lenzilumab, which is under development as a treatment for, among other things, cytokine storm associated with COVID-19.
Among other trials, Humanigen is investigating lenzilumab for the treatment of hospitalized COVID-19 patients in the ACTIV-5/BET-B study, which is part of a directed public-private partnership with the National Institutes of Health.
In May 2021, Humanigen submitted an application to the U.S. Food and Drug Administration (“FDA”) requesting Emergency Use Authorization (“EUA”) for lenzilumab for the treatment of patients hospitalized with COVID-19 (the “lenzilumab EUA”).
On September 9, 2021, Humanigen issued a press release announcing that the FDA had rejected the lenzilumab EUA, advising investors that, “[i]n its letter, [the] 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.
Finally, 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. 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.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
