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Humanigen, Inc. (HGEN) Stock Gaining Momentum in Aftermarket Despite any Visible Reason.

Humanigen. Inc. (HGEN) is a leading late clinical-stage biotherapeutics company engaged in the prevention and treatment an immune-based response known as a cytokine storm. The lead product candidate of the company is lenzilumab which has the ability to treat cytokine storms linked with COVID-19 and other CD19-targeted CAR-T cell therapeutics. It is also being explored for the treatment of acute Graft versus Host Disease patients which have undergone allogeneic hematopoietic stem cell transplantation, rheumatoid arthritis, and eosinophilic asthma.

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The price of HGEN stock during the regular trading on January 12, 2022, was $2.99 with a significant decline of 7.14%. At last check in the aftermarket, the stock was up by 1.00%.

HGEN: Events and Happenings

On January 10, 2022, HGEEN reported that it outlined the further protocol for the developing lenzilumab, for the treatment of CAR-T therapy associated toxicity involving ICANS and CRS in patients with refractory Non-Hodgkin lymphoma. On January 5, 2022, HGEN reported that the patient enrollment for Phase 2/3 ACTIV-5/BET-B clinical trial had been reached. The study registered up to 400 patients in the preliminary analysis population and was sponsored by the National Institute of Allergy and Infectious Diseases.

On January 4, 2021, HGEN reported that the company’s Executives will present at two virtual healthcare conferences including H.C. Wainwright BIOCONNECT Conference held on January 10–13 and 40th Annual JP Morgan Healthcare Conference being held on January 13, 2022.

On January 3, 2022, HGEN reported that a manuscript was available on medRxi which showed the outcomes of an analysis of CRP levels for LIVE-AIR Phase 3 clinical trials. The outcomes showed the clinical benefit for lenzilumab therapeutics can be achieved in lower baseline CRP levels COVID-19 patients. On December 1, 2021, HGEN reported that it hosted a webcast for providing a corporate update and discussing The Lancet Respiratory Medicine publications held on December 2, 2021.

On December 1, 2021, HGEN reported that The Lancet Respiratory Medicine published constructive outcomes from company’s LIVE-AIR Phase 3 lenzilumab trials in COVID-19 patients. On November 22, 2021, HGEN reported about three abstracts regarding the potential use of lenzilumab in COVID-19 patients was presented at the British Thoracic Society Winter 2021 Meeting held on Nov. 24-26, 2021.

HGEN: Key Financials

On November 12, 2021, HGEN reported its financial results for the third quarter ended September 30, 2021. Some of the updates are as follows

Net Loss per Share

Basic and diluted net loss for Q3 2021 was $66.7 million or $1.12 per share in comparison to $30.8 million or $0.71 per share for the same period of 2020.

Assets

Total current assets were reported to be $77.8 million for Q3 2021.

Conclusion

The stock of HGEN decelerated 82% in comparison to the past six months period due to the economic downfall created by the COVID-19 pandemic globally. Although the company reported about presenting the company in various investor conferences and some awaited clinical results of its products, the current aftermarket incline as suggested by the experts, is based on the uncertainty in the market environment.

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