HGEN - Why Humanigen Stock Is Soaring Today
Shares of Humanigen (NASDAQ: HGEN) are rising sharply and are up by 23.7% as of 12:14 p.m. EDT on Monday, after climbing by as much as 35.2% earlier today. Investors are bidding up the biopharmaceutical company following its announcement on Friday that lenzilumab, its experimental COVID-19 treatment, proved successful in treating a severe case of the disease.
In a press release published on its website on Friday, Humanigen cites the case of a 77-year-old male patient with a medical history of diabetes, coronary artery disease, and severe chronic obstructive pulmonary disease with emphysema, which is an inflammatory lung disease that can cause difficulty breathing. After contracting the SARS-CoV-2 virus that causes COVID-19, this patient was admitted to the ICU, treated with steroids and antibiotics, and put on respiratory isolation. Despite these efforts, though, the patient's condition worsened, his oxygen demand increased, and he developed acute respiratory distress syndrome.
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Why Humanigen Stock Is Soaring Today