HGEN - Humanigen Downfall: FDA Rejection For COVID-19 Drug Triggers Financial Crisis Bankruptcy | Benzinga
Humanigen (OTC:HGEN) has filed for bankruptcy likely as a result of the U.S. Food and Drug Administration’s (FDA) rejection of its COVID-19 drug, lenzilumab.
The company, previously linked with disgraced pharmaceutical entrepreneur Martin Shkreli, reported unsecured debts of $44.1 million against assets of $521,000.
The FDA’s refusal in 2021 to grant emergency-use authorization for lenzilumab significantly impacted Humanigen’s financial stability.
Citing Henry Madrid, the Senior Vice President of Finance, the Wall Street Journal noted that ...