Class action lawsuit charges Humanigen and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

Humanigen, Inc. (NASDAQ:HGEN)

NASHVILLE, TENNESSEE, UNITED STATES, September 8, 2022 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, informs investors that a that a purchaser of Humanigen, Inc. (NASDAQ: HGEN), who suffered losses in Humanigen stock, filed a class action complaint against the Company for violations of the securities laws. The Humanigen class action lawsuit seeks to represent purchasers or acquirers of Humanigen 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 losses in Humanigen stock or would like additional information, please visit us here.

Allegations in the Humanigen Class Action Lawsuit

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.
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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 who suffered loses in Humanigen.


Humanigen Shareholders Urged to Contact the Firm

If you purchased Humanigen securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click here for more information or contact Timothy L. Miles, Esquire, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell^® and ALM as a 2022 Top Ranked Lawyer and a 2022 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
109 Summit Ridge Ct.
Nashville, TN 37215
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.classactionlawyertn.com
Timothy Miles
Law Offices Of Timothy L. Miles
+1 855-846-6529
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Timothy L. Miles Miles
Law Offices Of Timothy L. Miles
+1 615-587-7384
email us here
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