Why Humanigen Stock Is Skyrocketing Today

Shares of clinical-stage biopharmaceutical company Humanigen (NASDAQ: HGEN) are soaring through the roof on Monday after the company reported positive top-line results from a clinical trial for one of its pipeline candidates, lenzilumab. As of 1:20 p.m. EDT, the company's stock was up by 66.6% after jumping by as much as 108.7% earlier today.

Lenzilumab is an experimental treatment for COVID-19. In a phase 3 clinical trial on patients hospitalized with the disease, those who received lenzilumab and other treatments (including steroids and remdesivir, an antiviral medicine for COVID-19 marketed by Gilead Sciences), were 54% more likely to survive without the assistance of mechanical ventilation than those who received a placebo and other treatments.

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Source Fool.com