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Clinical-stage biopharmaceutical firm Humanigen Inc (NASDAQ:HGEN) is involved in the development of lenzilumab, which is the first antigen in its class that not only binds but also helps in neutralizing granulocyte-macrophage colony-stimulating factor.
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The company is trying to develop a product for treating myelomonocytic leukemia and also for acute graft versus host disease.
The company is also working on many other applications of the antigen and it could eventually be a cornerstone of the company’s growth if everything goes as planned. It is a company that may be worth tracking for investors at this point in time who may be interested in the biopharmaceutical sector.
There has not been much news about Humanigen in recent days but the company was in fact in the news back in November last year when it announced its financial results for the third fiscal quarter and the first nine months of 2022.
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Both of those periods ended on September 30, 2022. It could give investors a better idea about the company if they took a look at some of the highlights. In the third quarter, the net losses suffered by the company were $23.7 million and that was far lower than the losses of $66.7 million that had been suffered in the prior year quarter.
On the other hand, in the nine-month period, the net losses came in at $75.2 million and that again reflected a considerable reduction considering the fact that Humanigen recorded net losses of $203.1 million in the nine-month period in 2021. The reduction in net losses was primarily a function of a significant reduction in research and development expenses incurred by the company.
In the nine-month period, the company spent $62.6 million on research and development which reflected a major reduction from the $183.8 million spent in the nine-month period in 2021.