Humanigen, Inc., (HGEN) (“Humanigen”), a clinical stage biopharmaceutical company focused on the development of next generation CAR-T and other cell therapies, announced today that it is contemplating conducting a broadly syndicated rights offering involving issuing a dividend of rights and over-subscription rights to purchase shares of its capital stock (“Shares”) to its stockholders as of a future record date pursuant to an offering statement on Form 1-A (the “Offering Statement”) which would be filed with the Securities and Exchange Commission (the “SEC”).
A broadly syndicated rights offering is a democratization of the public offering process allowing all stockholders of record to participate in the process. In this scenario, stockholders as of the record date would receive a right but not the obligation to purchase Shares during a to-be-determined exercise period. Stockholders as of the record date would also receive over-subscription rights to purchase additional shares beyond their pro rata percentage ownership. Humanigen has engaged RHK Capital to gauge feedback and interest for this potential rights offering.
"We are evaluating conducting a rights offering primarily to raise additional capital to pursue our GM-CSF neutralization strategy in a clinical collaboration with Kite, a Gilead company. If we proceed with this offering to our stockholders, our stockholders will have the first opportunity to purchase additional securities to maintain or increase their current percentage ownership in our company and provide capital to us at what we believe are attractive price levels," stated Cameron Durant, Humanigen’s chief executive officer.
Please send all inquiries to croberts@rhk.capital if you are interested in speaking with an advisor in regards to the Shares and the potential terms for the rights offering. The company welcomes your feedback as it tests the waters for this potential rights offering to its stockholders.
About Humanigen
Humanigen, Inc. is developing its portfolio of next-generation cell and gene therapies for the treatment of cancers via its novel, cutting-edge GM-CSF neutralization and gene-knockout platforms. There is a direct correlation between the efficacy of CAR-T therapy and the incidence of life-threatening toxicities (referred to as the efficacy/toxicity linkage). We believe that our GM-CSF neutralization and gene-editing platform technologies have the potential to reduce the inflammatory cascade associated with serious and potentially life-threatening CAR-T therapy-related side effects while preserving and potentially improving the efficacy of the CAR-T therapy itself, thereby breaking the efficacy/toxicity linkage. The company’s immediate focus is combining FDA-approved and development stage CAR-T therapies with lenzilumab, the company’s proprietary Humaneered® anti-human-GM-CSF immunotherapy, which is its lead product candidate. A clinical collaboration with Kite, a Gilead Company, was recently announced to evaluate the sequential use of lenzilumab with Yescarta®, axicabtagene ciloleucel, in a multicenter clinical trial in adults with relapsed or refractory large B-cell lymphoma. The company is also focused on creating next-generation combinatory gene-edited CAR-T therapies using strategies to improve efficacy while employing GM-CSF gene knockout technologies to control toxicity. In addition, the company is developing its own portfolio of proprietary first-in-class EphA3-CAR-T for various solid cancers and EMR1-CAR-T for various eosinophilic disorders. The company is also exploring the effectiveness of its GM-CSF neutralization technologies (either through the use of lenzilumab as a neutralizing antibody or through GM-CSF gene knockout) in combination with other CAR-T, bispecific or natural killer (NK) T cell engaging immunotherapy treatments to break the efficacy/toxicity linkage, including to prevent and/or treat graft-versus-host disease (GvHD) in patients undergoing allogeneic hematopoietic stem cell transplantation (HSCT). The company has established several partnerships with leading institutions to advance its innovative cell and gene therapy pipeline. For more information, visit www.humanigen.com
About RHK Capital
Advisory Group Equity Services, Ltd. (dba RHK Capital) was founded in 1984. RHK Capital is a boutique investment banking firm specializing in small to medium-sized transactions. RHK is led by a management team with extensive financial industry experience and a desire to provide companies and individuals with the tools and expertise to accomplish their financial goals. In addition to investment banking, RHK has grown to include businesses in general securities, emerging market securities, distressed and high yield debt securities, investment management, mortgages, and business lending. As a division of Advisory Group Equity Services (AGES), all securities are offered through Advisory Group Equity Services Ltd., a registered broker-dealer, member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
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