Humanigen plunges after U.S. FDA declines emergency use approval for COVID-19 drug

Humanigen

09/09/2021 11:09

** Drug developer's  HGEN.O  shares plunge ~52.5% to $7.17
premarket
    ** Stock top percentage loser across exchanges, before
opening bell
    ** Co says U.S. FDA declined to grant emergency use
authorization for its drug, lenzilumab, to treat patients
hospitalized with COVID-19  urn:newsml:reuters.com:*:nL4N2QB12Z
    ** FDA in its letter to HGEN stated it was unable to
conclude the benefits of lenzilumab outweighed its risks as a
treatment for COVID-19
    ** HGEN filed its application with FDA seeking emergency use
authorization in May, citing late-stage trial data  urn:newsml:reuters.com:*:nL3N2NF38I
    ** As of last close, stock down ~13.7% this year

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com))