Humanigen (NASDAQ: HGEN), a clinical-stage biopharmaceutical company focused on preventing and treating an immune hyper-response called “cytokine storm” with its lead drug candidate lenzilumab, has closed an underwritten public offering of 9,200,000 shares of common stock, including 1,200,000 shares pursuant to the full exercise of the over-allotment option granted to the underwriters. According to the update, Humanigen secured approximately $78.2 million in gross proceeds, with each of the shares sold at the public offering price of $8.50. The company intends to use the proceeds to support its manufacturing, production and commercial preparation activities relating to lenzilumab as a potential therapy for COVID-19 patients and for general corporate purposes. Roth Capital Partners acted as co-manager for the offering.
To view the full press release, visit https://ibn.fm/7Y0cs
About Humanigen Inc.
Humanigen is developing its portfolio of clinical and pre-clinical therapies for the treatment of cancers and infectious diseases via its novel, cutting-edge GM-CSF neutralization and gene-knockout platforms. The company believes that its GM-CSF neutralization and gene-editing platform technologies have the potential to reduce the inflammatory cascade associated with coronavirus infection. The company’s immediate focus is to prevent or minimize the cytokine release syndrome that precedes severe lung dysfunction and ARDS in serious cases of SARS-CoV-2 infection.
The company is also focused on creating next-generation combinatory gene-edited CAR-T therapies using strategies to improve efficacy while employing GM-CSF gene knockout technologies to control toxicity. In addition, the company is developing its own portfolio of proprietary first-in-class EphA3-CAR-T for various solid cancers and EMR1-CAR-T for various eosinophilic disorders. The company is also exploring the effectiveness of its GM-CSF neutralization technologies (either through the use of lenzilumab as a neutralizing antibody or through GM-CSF gene knockout) in combination with other CAR-T, bispecific or natural killer (“NK”) T cell engaging immunotherapy treatments to break the efficacy/toxicity linkage, including to prevent and/or treat graft-versus-host disease (“GvHD”) in patients undergoing allogeneic hematopoietic stem cell transplantation (“HSCT”). Additionally, Humanigen and Kite, a Gilead Company, are evaluating lenzilumab in combination with Yescarta(R) (axicabtagene ciloleucel) in patients with relapsed or refractory large B-cell lymphoma in a clinical collaboration. For more information, please visit www.Humanigen.com.
BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
To receive SMS text alerts from BioMedWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.BioMedWire.com
BioMedWire is part of the InvestorBrandNetwork