BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Gritstone bio, Inc. (“Gritstone” or the “Company”) (NASDAQ: GRTS) investors concerning the Company’s possible violations of federal securities laws.
On February 12, 2024, Gritstone disclosed that it would be delaying the launch of its COVID-19 vaccine study (the “Phase 2b CORAL Study”) from the first quarter of 2024 to Fall 2024 to “allow use of fully GMP-grade raw materials in the vaccine, which is expected to increase the regulatory utility of the trial.”
Then, on February 29, 2024, Gritstone announced that it was reducing approximated 40% of its workforce, stating that “[t]he move comes following the recently announced delay of the proposed CORAL Phase 2b study, which resulted in Gritstone not receiving external funding it previously anticipated beginning in 1Q 2024, associated with the initiation of the study.”
On this news, Gritstone’s stock price fell $0.78, or 27.9%, to close at $2.02 per share on March 1, 2024, thereby injuring investors.
If you purchased Gritstone securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
