Humanigen Inc (fka HGENQ)

[cowtown jay]

The, "...court recognized developments (details of which appear to be redacted), that will bring sufficient value to have justified an amendment to the Asset Purchase Agreement, allowing for additional Milestone Events and higher payments. So there will be no reason to decline a distribution to existing equity holders. It is clear that favorable regulatory approval/authorization is required to enact Milestone payments."

The court recognized the feasibility of Humanigen's ability to meet the CH11 obligations.

"G. Feasibility

Here, the Combined Plan and Disclosure Statement provides for the liquidation and
distribution of all of the Debtor’s remaining Assets. Accordingly, the Debtor believes all chapter
11 plan obligations will be satisfied without the need for further reorganization of the Debtor. "


pg 35/69
https://document.epiq11.com/document/getdocumentbycode?docId=4343521&projectCode=HUM&source=DM

The last report that I saw reflected that Sanofi was holding just under 5% of our (then Kalobios) shares. So they would have significant financial benefit in the event of a recall of our loaned shares, or merger news.

Sanofi would have significantly more financial benefit if Humanigen/Taran enacted the plan they previously suggested, details which included providing a merger partner with ~238,160,270 shares of our stock (which is twice as high as our current OS). I determined that they would accomplish this by declaring a 5:1 forward split, (temporarily?) increasing our OS to 595,400,675 shares.

In any event, I have been saying that achieving any Milestone Event would fully satisfy all creditors, and provide for a Distribution to existing equity holders. It was nice to have validation of that opinion expressed by management.

I know that I'm missing something significant about Sanofi, so I decided to consider them in terms of the merger details previously discussed. So maybe this will conclude with our joint ownership of a merger entity with Sanofi.