Humanigen Inc (HGENQ)

[cowtown jay]

Gilead has their hands full. Tort lawyers are lining up charging Immunomedics (IMMU) Board Members with a breach of fiduciary duty in reaching a merger agreement with Gilead for $88 per share. Gilead filed the Tender Offer today.

https://ih.advfn.com/stock-market/NASDAQ/immunomedics-IMMU/stock-news/83325308/tender-offer-statement-by-third-party-sc-to-t

"Immunomedics, Inc., a biopharmaceutical company, develops monoclonal antibody-based products for the treatment of cancer, autoimmune, and other serious diseases. Its lead product candidate is epratuzumab, which is in two pivotal Phase III trials for the treatment of patients with moderate and severe lupus. The company's other products include IMMU-106, which is in Phase I/II clinical trials in patients with B-cell non-Hodgkin's lymphoma; and PAM4, a humanized monoclonal antibody for the treatment of pancreatic cancer. It also markets and sells LeukoScan, a diagnostic product used for the detection of bone infections, in Europe, Canada, and the United States. The company was founded in 1982 and is headquartered in Morris Plains, New Jersey."

https://investorshub.advfn.com/Immunomedics-Inc-IMMU-10373/ (iBox)

Gilead is financing the tender offer, in part, with a shelf registration for a total of $7.25 Billion of Senior Unsecured Notes in an underwritten, registered public offering. Their prospectus filed today provides additional information.

"Form 424B5 - Prospectus [Rule 424(b)(5)]:SEC Accession No. 0001047469-20-004962
Filing Date
2020-09-23

pg S-1

Our Company

The approval status of Veklury (remdesivir) varies worldwide, and Veklury (remdesivir) is not approved in the United States and is authorized for use under an Emergency Use Authorization.

Recent Developments

Proposed Acquisition of Immunomedics, Inc.

On September 13, 2020, we announced that we entered into an Agreement and Plan of Merger (the "Merger Agreement") with Immunomedics and Maui Merger Sub, Inc. ("Merger Sub"), a Delaware corporation and our wholly owned subsidiary, pursuant to which we will acquire Immunomedics (the "Acquisition").

We estimate the aggregate amount of cash consideration required to consummate the tender offer and the merger will be approximately $21 billion, plus related fees and expenses. We currently anticipate financing the Acquisition with cash on our balance sheet, a portion of the net proceeds of the issuance of the notes offered hereby and up to $1.0 billion of borrowings under available term loan facilities (the "New Term Loan Facility"). The Acquisition is not subject to a financing condition.

https://www.sec.gov/Archives/edgar/data/882095/000104746920004962/0001047469-20-004962-index.htm

Then there is the news last week about the rem/baricitinib combo.

"Eli Lilly And Co Announce Baricitinib In Combination With Remdesivir Reduces Time To Recovery In Hospitalized Patients WIth COVID-19 In NIAID-Sponsored ACTT-2 Trial.."

1:43 pm ET September 17, 2020 (Benzinga)

But the bottom line is that the BET is evaluating a rem/lenz cocktail, despite the fact that Gilead's focus seem to be all over the place.

So I hope that Durrant just blows everybody out of the water with his EUA application.