Case Summary

Gritstone bio

NASDAQ: GRTS

Case Details

  • Poslajko v. Gritstone bio, Inc. et al.
  • Class Period:March 9, 2023 - February 29, 2024
  • Date Filed:June 07, 2024
  • Jurisdiction:U.S. District Court, Northern District of California
  • Docket Number: 3:24-cv-03449
  • Lead Plaintiff Deadline: August 6, 2024
Days Left to
Seek Plaintiff
42

Overview

A class action lawsuit has been filed against Gritstone bio, Inc. (“Gritstone” or the “Company”) (NASDAQ: GRTS) and certain of the Company’s current senior executive officers alleging violations of the federal securities laws.  The Gritstone class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Gritstone securities between March 9, 2023, and February 29, 2024, both dates inclusive (the “Class Period”).  Investors have until August 6, 2024, to seek appointment as lead plaintiff of the Gritstone class action lawsuit.

Gritstone, a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases.  In September 2023, Gritstone entered into a contract with the Biomedical Advanced Research and Development Authority (“BARDA”) to run a 10,000 participant, randomized Phase 2b double-blinded study to compare the efficacy, safety, and immunogenicity of its COVID-19 vaccine candidate (a samRNA vaccine candidate) with an approved COVID-19 vaccine (the “Phase 2b CORAL Study” or the “Study”).  In a press release announcing the Phase 2b CORAL Study, the Company stated that the contract provided strong validation of its innovative vaccine platform in infectious diseases and that execution of the Study would be fully funded by BARDA, and that the Study would be expected to launch in the first quarter of 2024.

The Gritstone class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and misleading statements regarding the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company would be unable to launch the Phase 2b CORAL Study in the timeframe it had represented to investors; (2) the foregoing would impair Gritstone’s ability to obtain external funding in connection with the Study, thereby negatively affecting Gritstone’s ability to maintain its balance sheet and cash position; (3) accordingly, Gritstone overstated its ability to successfully develop and commercialize its products; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Gritstone securities between March 9, 2023, and February 29, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Gritstone lawsuit is August 6, 2024.

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