Humanigen Inc (HGENQ)

[cowtown jay]

I screwed things up trying to answer both you and Yooo in a single post, since you were both talking about HGEN shares being sold and diluting shareholders. That was my bad.

I agree with what you said about, "...HGEN is selling shares on a regular basis (i.e., on the open market and thus, diluting shareholders."

In fact, I addressed that issue previously.

"Third quarter cash burn was higher than what some investors were expecting. But, the FDA took 104 days to announce their Decline determination. Management could not very well taper production when they were expecting an EUA approval. There were only three weeks left in the Third Quarter before the FDA finally announced their decision.

Compelling evidence that management was expecting approval is shown by the fact that Humanigen did not sell a single share of what they had available to sell by resuming the ATM, until after we were Declined. But being deprived of a revenue source, they were forced to dilute us for less than half of the proceeds they would have generated if they had sold shares before the EUA Decline."

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166757326&txt2find=

"FDA has declined Humanigen’s Emergency Use Authorization (EUA) Request for Lenzilumab in Hospitalized COVID-19 Patients
Sep 09, 2021

https://ir.humanigen.com/English/news/news-details/2021/FDA-has-declined-Humanigens-Emergency-Use-Authorization-EUA-Request-for-Lenzilumab-in-Hospitalized-COVID-19-Patients/default.aspx

The last sells from any of Dale's entities appears to have been in July.

We resumed the controlled equity offering on Aug 13th. "On August 12, 2021, the last reported sale price of our common stock on the Nasdaq Capital Market was $17.52 per share."

https://www.sec.gov/Archives/edgar/data/1293310/000121465921008540/p812211424b5.htm

Management wouldn't be selling the $100M worth of stock they told us about last December, after the 1st Quarter, if the EUA had been approved. Our only dilution would have come from the 5M share public offering.

And I hope that the company will not have to sell all of the remaining $33.5M worth of stock. That will depend on how much revenue is being generated through Clinigen.