Humanigen prices underwritten public offering of 8 million shares to raise $68M as it preps for Nasdaq debut

Humanigen Inc (NASDAQ:HGEN) (OTCQB:HGEND), a clinical stage biopharmaceutical company focused on preventing and treating an immune hyper-response called “cytokine storm” with its lead drug candidate lenzilumab, has priced its underwritten public offering of 8 million shares of common stock to raise about $68 million.  The California-based company intends to use the net proceeds to support its manufacturing, production and commercial preparation activities relating to lenzilumab as a potential therapy for COVID-19 patients and for general corporate purposes. In a statement Friday, Humanigen said each share is priced at $8.50 and the offering is expected to close on or about September 22. READ: Humanigen and Lonza reveal collaboration to expand manufacturing COVID-19 therapeutic candidate lenzilumab  Humanigen also granted the underwriters a 30-day option to purchase up to an additional 1.2 million shares at the public offering price, less underwriting discounts and commissions. JP Morgan and Jefferies are acting as joint book-running managers for the offering. Bryan, Garnier & Co is acting as the European lead manager and HC Wainwright & Co, National Securities Corporation and Roth Capital Partners are acting as co-managers. Lenzilumab, an anti-human granulocyte macrophage-colony stimulating factor (GM-CSF) monoclonal antibody drug candidate, is being evaluated in an ongoing Phase III trial and was selected by the National Institutes of Health for its COVID-19 Big Effect Trial.  Meanwhile, Humanigen's stock will commence trading on the Nasdaq Capital Market on Friday under the symbol "HGEN." Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham