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Humanigen, a small company whose stock has more than quadrupled this year because of hopes about its potential treatment for Covid-19, said Friday that the drug is performing well in a clinical trial and that it has begun a research partnership with Operation Warp Speed, the U.S. government’s effort to speed the development of Covid drugs and vaccines.

But two experts in clinical trial statistics say that they do not think Humanigen’s claims about its drug’s effectiveness are appropriate — and that the company should not have any knowledge about the efficacy of the drug in the ongoing study at all.

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