Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Humanigen, Inc. (HEGN)

NEW YORK, Aug. 29, 2022 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Humanigen, Inc. (“Humanigen” or the “Company”) (NASDAQ: HEGN) in the United States District Court for the District of New Jersey on behalf of investors who purchased or otherwise acquired Humanigen common stock between May 28, 2021 and July 12, 2022, both dates inclusive (the “Class Period”).

The Complaint allege that Defendants made false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) lenzilumab was less effective in treating hospitalized COVID-19 patients than defendants had represented; (2) as a result, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the lenzilumab Emergency Use Authorization (“EUA”) and the ACTIV-5/BET-B study was unlikely to meet its primary endpoint; (3) accordingly, lenzilumab’s clinical and commercial prospects were overstated; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Humanigen should contact the Firm prior to the October 25, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.

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