Interesting reading about share holders of a NASDAQ's listed biotech incoming class action for being misled by management and having their investments diluted.....
https://www.news10.com/business/press-releases/accesswire/1005042/sana-biotechnology-inc-class-action-levi-korsinsky-reminds-sana-biotechnology-inc-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-may-20-2025-sana/THE LAWSUIT:A class action securities lawsuit was filed against Sana Biotechnology, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between March 17, 2023 and November 4, 2024.
CASE DETAILS:The filed complaint alleges that defendants made false statements and/or concealed 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.
It wouldn't happen here though as ASIC and the ASX aren't about defending investors interests....
(20min delay)