Coronavirus treatment hit by regulatory setback in the USA
Shares in Californian cytokine storm specialist Humanigen (Nasdaq: HGEN) lost half their value on Thursday, after the firm announced the US regulator rejected its request for an Emergency Use Authorization (EUA) for lenzilumab.
Humanigen is developing the antibody as an option to treat people who have been newly hospitalized with COVID-19 disease.
In its letter, the US Food and Drug Administration said it was unable to conclude that the known and potential benefits of lenzilumab outweigh the known and potential risks of its use as a treatment for COVID-19.
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