HGEN again closed lower. There is no capitulation, shorts will continue to attack this damaged company until it enters bankruptcy and shutters.
*FDA scrutinizes HGEN's study and forces an extended study.
*CEO Durrant sold the same preferred shares twice, defrauding retail investors to favor Wall Street Insiders.
*Tainted studies. Most recent study involved patients on other drugs removing the ability of HGEN to say their drug was responsible for recovery.
*5 out of 12 actually recovered on HGEN's drug alone. 50% versus the control arm which had an astounding 81% recovery.
*HGEN's drug was based off of stolen IP from a Chagas treatment they abandoned. If they lose in court they will owe damages and royalties.
*HGEN changed end points and never released efficacy results.
*Massive Reverse Split, 5 to 1 unsupported by any science, EUAs, or critically reviewed studies proving it passes academic muster.
*Mayo Clinic describes Control Arm only study, Mayo did not do the gold standard double blind placebo study.
*HGEN's springboard study took 11 patients and classified them as COVID severe cases. None of them were on vents and described with moderate symptoms.
*NASDAQ uplisting requires minimums that HGEN doesn't meet.
*NASDAQ monitors volatility as apart of uplisting. HGEN has had a dramatic fall. Reverse Split results will be heavily scrutinized.
*Reverse Split taking place on OTC market. Small equity holders set to lose initial positions. Retail investors will be spooked.
*Most institutions require a minimum 5 dollar share price and a security to be listed on an exchange to offer it or pick it up as an investment. HGEN's desperation play requires the "cavalry to come over the hill" to remain viable.
HGEN is a scam run, short, but don't buy or hold this junk!
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