Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
07/13/2022
Initial Lawsuit
08/26/2022
Lawsuit Progression
10/25/2022
A Humanigen, Inc. (HGEN) filed a federal securities class action lawsuit on behalf of a class consisting of all persons and entities other than the defendants that purchased or otherwise acquired Humanigen securities between May 28, 2021, and July 12, 2022, both dates inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) lenzilumab was less effective in treating hospitalized COVID-19patients than the defendants had represented;
(ii) as a result, the FDA was unlikely to approve the lenzilumab EUA and the ACTIV-5/BET-B study was unlikely to meet its primary endpoint;
(iii) accordingly, lenzilumab’s clinical and commercial prospects were overstated; and
(iv) as a result, the company’s public statements were materially false and misleading at all relevant times.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.