BURLINGAME, CA / ACCESSWIRE / September 15, 2020 / Humanigen, Inc. (OTCQB:HGEND) ('Humanigen'), a clinical stage biopharmaceutical company focused on preventing and treating an immune hyper-response called ‘cytokine storm' with its lead drug candidate lenzilumab, today announced that it has commenced an underwritten public offering of 8,000,000 shares of common stock. J.P. Morgan and Jefferies are acting as joint book-running managers for the offering. Humanigen expects to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 shares. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

Humanigen has received approval from The Nasdaq Stock Market, LLC for its common stock to begin trading on the Nasdaq Capital Market under the symbol 'HGEN' on the trading day immediately following the pricing of the offering of the shares. Humanigen's common stock currently trades on the OTCQB Venture Market under the symbol 'HGEND.'

Humanigen intends to use the net proceeds from the offering 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.

An effective registration statement relating to these securities is on file with the Securities and Exchange Commission. The offering will be made only by means of a preliminary prospectus supplement and accompanying prospectus related to the offering. Prospective investors should read the preliminary prospectus supplement and accompanying prospectus, the registration statement and the documents that are incorporated by reference therein, which the Company has filed with the Securities and Exchange Commission for more complete information about the Company and the offering. Investors may obtain these documents for free by visiting the SEC's website at www.sec.gov. Alternatively, copies may also be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 Telephone: 866-803-9204 Email: [email protected]; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by e-mail at [email protected] or by telephone at (877) 821-7388.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This release contains forward-looking statements. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct and you should be aware that actual events or results may differ materially from those contained in the forward-looking statements. Words such as 'will,' 'expect,' 'intend,' 'plan,' 'potential,' 'possible,' 'goals,' 'accelerate,' 'continue,' and similar expressions identify forward-looking statements, including, without limitation, statements regarding the amount of shares to be offered, the listing of the shares on Nasdaq and the contemplated use of proceeds. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to, the various risks and uncertainties described in the 'Risk Factors' sections and elsewhere in the Company's periodic and other filings with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You should not place undue reliance on any forward-looking statements, which speak only as of the date of this release. We undertake no obligation to revise or update any forward-looking statements made in this press release to reflect events or circumstances after the date hereof or to reflect new information or the occurrence of unanticipated events, except as required by law.

SOURCE: Humanigen, Inc.