The ACTIV-5 trial data would not be part of HGEN's EUA application. The ACTIV-5 trial data are the government's data. HGEN's EUA application would be no different after 900 patients. Lenzilumab was a borderline case that required a deep dive by the FDA. It made sense for HGEN to apply when they did apply.
The original 200 patient ACTIV-5 hadn't completed when HGEN applied for the EUA. Obviously, the FDA were going to also look at the ACTIV-5 data when it did finish. Most drugs get the EUA if the FDA gives the green light to apply. I still believe that the EUA will come. Why would you be invested in a stock if you believe that the FDA are conspiring against it?