THE LAWSUIT: A class action securities lawsuit was filed against Sana Biotechnology, Inc. (SANA) that seeks to recover losses of Sana Biotechnology, Inc. 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: Sana issued a press release on November 4, 2024, announcing that it “will suspend development of both SC291 in oncology and of SC379, its glial progenitor cell program, as it seeks partnerships for these programs”. In the press release, Steve Harr, Sana’s President and Chief Executive Officer stated that “we need to ensure that we are directing our investments into the areas where we believe we can have the greatest impact for patients” and that “[t]his modified strategy will also help us reduce our cash burn but comes with the necessity of parting with some talented and valued colleagues.”
Following this news, Sana’s stock price fell over 9% on November 5, 2024.
WHAT’S NEXT? If you suffered a loss in Sana Biotechnology, Inc. stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/sana-biotechnology-inc-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
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