Humanigen’s stock soars in active trading after upbeat report on lenzilumab in severe COVID-19

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Shares of Humanigen Inc. shot up 26% in active morning trading Monday, extending gains after the biopharmaceutical company revealed an upbeat patient case report regarding use of lenzilumab in a COVID-19 patient. Trading volume swelled to 1.3 million shares, already nearly triple the full-day average of about 373,000 shares. The stock had gained 2.6% on about 491,000 shares on Friday. The company said before Friday’s that a patient, a 77-year-old male with a medical history of diabetes, coronary artery disease, severe chronic obstructive pulmonary disease (COPD) and obstructive sleep apnea, who tested positive for SARS-CoV-2, was approved by the Food and Drug Administration to receive an emergency single use IND for lenzilumab at week 13 of hospitalization, and after unsuccessful attempts at oxygen weaning. The patient was able to walk outside of the hospital with physical therapy seven days later, and was discharged from the hospital on home oxygen after 16 days. The company said a separate case study in severe and critical COVID-19 published by the Mayo Clinic demonstrated an 80% reduction in relative risk of invasive mechanical ventilation (IMV) and/or death for patients treated with lenzilumab compared to the matched control group. Lenzilumab is being evaluated in an ongoing Phase 3 trial. The stock has rocketed 410.8% year to date, while the S&P 500 has gained 4.9%.
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