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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Humanigen, Inc. (NASDAQ: HGEN) who purchased shares between May 16, 2020 and July 12, 2022. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
(i) Humanigen’s lead product candidate, lenzilumab, posed risks to patients in addition to those disclosed by defendants; (ii) lenzilumab was not the only immunomodulator currently in late-stage clinical trials; (iii) lenzilumab was less effective in treating hospitalized COVID-19 patients than defendants had represented; (iv) as a result, the U.S. Food and Drug Administration was unlikely to approve the lenzilumab Emergency Use Authorization and the ACTIV-5/BET-B study was unlikely to meet its primary endpoint; (v) accordingly, lenzilumab’s clinical and commercial prospects were overstated; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until October 25, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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