Humanigen Jumps to a New High After NIH Picks Its Drug for a COVID-19 Study
The coronavirus pandemic has been one of the biggest healthcare crises in history and hence, companies that have been working on vaccines or medicines for COVID 19 have come into sharp focus in recent times. One such company is Humanigen Inc (OTCMKTS:HGEN) and the stock has made significant gains over the course of the year so far.
Combination Of Lenzilumab And Remdesivir
In 2020 so far, the Humanigen stock had gained as much as 863% up until Monday and on Tuesday, it continued its upward move on the back of a major development. The scientists over at National Institutes of Health (NIH) endorsed one of its monoclonal antibody drugs and that resulted in a 13% jump in the stock.
On the other hand, the National Institute of Allergy and Infectious Diseases (NIAID), which is under the NIH, is also making plans to test the company’s product lenzilumab in a clinical trial on coronavirus patients. NIAID, is currently conducting something called a Big Effect Trial, which is testing a range of medicines in order to find the best combination for treating coronavirus patients.
Hence, the addition of lenzilumab to this study is a major development for Humanigen and the reaction in the market was understandable. Considering the gains made by the stock on Tuesday, there is likely going to be a lot of focus on the stock from investors today.
The Chief Executive Officer of the company Cameron Durrant also spoke about the reason why this was such a significant development. He stated that NIAID is one of the world’s most important government-supported public health organizations, which is why the selection of lenzilumab in its program is a massive development. That being said, it should be noted that no date or timeline has yet been provided with regards to the trial. Investors would need to keep an eye on the news with regards to these developments and keep track of the events.
However, it is also important for potential investors to take a look at some of the other developments with regards to Humanigen. Earlier this month, the company had made another major announcement that proved to be a major positive. The company announced that it decided to expand its partnership with Catalent Biologics. The expansion of the partnership is also going to include the manufacturing of the Humanigen’s coronavirus medicine candidate lenzilumab.
It should be noted that lenzilumab was originally developed by Humanigen by deploying Catalent’s GPEx® cell line development technology. It goes without saying that it is a significant development since it indicates that Humanigen is now going to have the capability of manufacturing the medicine in bulk, provided it gets the necessary approvals. This is a stock that investors could consider adding to their watch lists.
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