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Thursday, May 26, 2022

Humanigen, Inc. (HGEN) Stock on a Rise in Premarket, Here’s Why

Humanigen, Inc. (HGEN), a clinical-stage biopharmaceutical company, has seen an increase of 2.46% in the premarket trading session. As a consequence, HGEN stock was trading at $6.24 when last checked. The increase seems to be due to the presentation of results from the LIVE-AIR Phase 3 study. On Wednesday, HGEN stock closed the day at $6.09 after declining 0.49% in regular trading hours.

HGEN presentation of results from the study

On Wednesday, HGEN presented the results from the company’s randomized, double-blind, placebo-controlled LIVE-AIR Phase 3 study at IDWeek 2021. IDWeek 2021 is the joint annual meeting of the IDSA, SHEA, HIVMA, PIDS and SIDP. The conference was to take place virtually from 29th September to 3rd October 2021. Zelalem Temesgen, MD, Professor of Medicine at Mayo Clinic and Principal Investigator of the LIVE-AIR Phase 3 trial, would give a presentation regarding the safety and efficiency of lenzilumab in hospitalized COVID-19 patients at the meeting. The live study achieved its primary endpoint of survival without ventilation measured through day 28 following treatment. Cameron Durrant, CEO of Humanigen, said that the company is pleased the phase 3 LIVE-AIR data have been selected for oral presentation at the most prestigious infectious disease meeting of the year.


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Q2 2021 financial results

On 12th August, HGEN reported the quarterly results for the second quarter of the fiscal year 2021, which ended 30th June 2021. According to the details, the company generated $1.03 in terms of license revenue during the quarter. The research and development expenses bore by the company during the period stood at $63.01 million, while during the equivalent period of 2020, these were $21.14 million. The general and administrative expenses for the period stood at $8.07 million, while during the equivalent period of 2020, these were $1.95 million. The company bore a loss of $70.05 million from the operations, while during the equivalent period of 2020, the loss from operations stood at $23.09 million. The net loss bore by the company for three month period stood at $70.80 million, while for an equivalent period of 2020, the net loss stood at $24.02 million. The net loss per basic and diluted share stood at $1.20, while during the equivalent period of 2020, the net loss per basic and diluted share was $0.79. The cash and cash equivalents on the 30th of June stood at $120.53 million. The current assets in possession of the company stood at $121.64 million, while current liabilities were $50.31 million.

What’s next for HGEN?

Recent past stats of HGEN stock have not been outstanding. The stock has declined by some 63% during the last month. Analysts believe that the company’s EPS could grow by a massive 104% during the next fiscal year. So, potential investors should keep a close eye on HGEN stock.

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