The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Western District of Washington on behalf of shareholders of Sana Biotechnology, Inc. who purchased Securities between March 17, 2023 and November 4, 2024.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Sana was at significant risk of having insufficient funds to maintain its current operations and advance one or more of its product candidates; (ii) SC291 in oncology, SC379, and SG299 were less promising than defendants had led investors to believe; (iii) in order to preserve cash and advance its more promising product candidates, Sana was likely to decrease funding for and/or discontinue SC291 in oncology, SC379, and SG299, as well as significantly reduce its headcount; (iv) accordingly, defendants overstated Sana’s financial capacity to maintain its current operations and advance its existing product candidates; and (v) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 20, 2025 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
