Humanigen Inc (HGENQ)

[ZenNavigator54]

There so many of these biotech companies with zero revenue other than research and development of new drugs.

As for LENZI, it's been researched and developed for clinical trial since 2015.

If the FDA is costing drug companies that much money to get approval it increases cost of health care. Either the drug works or not.

1. Why is Lenzi not approved
2. Will Lenzi ever be approved
All these biotech with zero sales and unapproved drugs rely on investors to keep the business operating. Even with only 4 employees it cost annual burn rate is 5 million.
However a lot of these biotech firms was not about getting FDA approval or getting the drug to commercialization. The entire plan was to sell to investors and then go bankrupt and not raise additional shares. HGEN could have easily raised additional investement if it was not for the legal liabilities and shareholder lawsuit which was like near 40 million. It cannot get any investor to put money into the company but that was the plan to declare chapter 11 and auction the ip asset for nothing. and start another biotech company and sell hopium to new investors again. But in the process, the drug itself is not sold to the public for use due to no FDA approval even if the drug does have efficacy and works. There are probably lots of drugs like lenzi that does the same thing in immune boosting drugs. The same reason Dracula drank human blood to cure his blood cancer or some kind of blood disease.