Recently Humanigen Inc (NASDAQ: HGEN) released positive results from its late-stage COVID-19 antibody therapy lenzilumab study.
The stock surged in the news but later gave up some of the gains. The company indicated that the lenzilumab antibody therapy increased survival chances without requiring mechanical ventilation by 54%, which was the study’s primary endpoint.
Lenzilumab is unlike other antibody therapies that target the virus since its targets granulocyte-macrophage colony-stimulating factor (GM-CSF). The drug dampens the immune system and allows it to catch and gets rid of the virus. The FDA is yet to issue approval on the drug but has already offered a benefit of the doubt for various EUAs, offering optimism.
Interestingly the drug is under other studies; thus, the FDA will get more data to decide on a potential EUA. The other studies are advantageous to the company in its path to a EUA. Humanigen is planning a $92 million stock offering resulting in a sell-off of the stock, but this could be temporary. This is a stock to watch in the coming months.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.