Humanigen, Inc. Class Action Lawsuit - HGEN
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The Humanigen class action lawsuit seeks to represent purchasers or acquirers of Humanigen, Inc. (NASDAQ: HGEN) securities between May 28, 2021 and July 12, 2022, inclusive (the “Class Period”). The Humanigen class action lawsuit – captioned Pieroni v. Humanigen, Inc., No. 22-cv-05258 (D.N.J.) – charges Humanigen and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Humanigen class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Humanigen class action lawsuit must be filed with the court no later than October 25, 2022.
CASE ALLEGATIONS: Humanigen’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 (“NIH”). 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 Humanigen class action lawsuit alleges that defendants failed to disclose that: (i) lenzilumab was less effective in treating hospitalized COVID-19 patients than defendants had represented; (ii) 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; and (iii) accordingly, lenzilumab’s clinical and commercial prospects were overstated.
On September 9, 2021, Humanigen announced 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 more than 47%.
Then, on July 13, 2022, Humanigen disclosed that lenzilumab had failed to show statistical significance on the primary endpoint of the ACTIV-5/BETB study. On this news, Humanigen’s stock price fell by nearly 80%, further damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Humanigen securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Humanigen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Humanigen class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Humanigen class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.