Humanigen down after potential bankruptcy evaluation, delisting notice

Humanigen

25/07/2023 11:41

** Shares of drug developer Humanigen  HGEN.O  fall ~65% to
7 cents premarket
    **  Co anticipates it will not be able to continue as a
going concern and is "exploring all restructuring options",
which may include commencing a bankruptcy or other insolvency
proceeding sometime in Q3
    ** Adds, it is evaluating term sheets relating to potential
sales of assets in a bankruptcy proceeding 
    ** Also says it received a letter on Monday evening,
indicating that Nasdaq's panel will delist the company's shares,
and trading in its shares will be suspended from July 26 
    ** As of last close, stock up ~59% this year

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))