Humanigen Inc (HGENQ)

[ArcherNebula411]

Humanigen before 2022 july 13 had and enterprise value over 100 million value and when it ipo on nasdaq it book shows assets over 100 million the min. asset value to be listed in Nasdaq and had millions in cash. Humanigen didn't have debts in incurred prior to July 13 2022 it was FDA’s rejection of Humanigen drug highlights problems in developing Covid-19 treatments. and as result of the 27 million and 4.3 million in lawsuit and 3 million shareholder lawsuit as result of the rejection of the FDA of the drug Lensizlaud . FDA stated that it was unable to conclude that the known and potential benefits of lenzilumab outweigh the known and potential risks of its use as a treatment for COVID-19.
Because of the 30 million liability or lawsuit, the company cannot raise new additional investor cash. companies like humanigen are funded by investors that keeping funding for research and submission of clinical trial data which cost millions.
The company doesn't even own the Lenz patent and auctioned for zero value. An asset once worth 2 billion IF approved by FDA. in 2021 Now the question is why would anyone pay 2 million for some ip or asset supposedly worth ZERO.
Why would Taran buy the contracts. All contracts of hgen are discharged. isn't it in chapter 11.
Not a single biotech even bother to bid for the assets. Either it's worthless and too messy and lead to expensive legal litigation with any buyer of the 'ip' due to many conditions on the sale of the ip. or assets. The buyer of the assets had obligation to the seller which detered any potential buyer. Essentially in business terms, any bidder was bidding for an asset that had a lien or liability. on the auction for the humanigen assets. that is why nobody would even register to bid. it was an auction but closed or restricted auction or bogus auction or rigged auction.