NEW YORK, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of BioAge Labs, Inc. (NASDAQ: BIOA), Caribou Biosciences, Inc. (NASDAQ: CRBU), FTAI Aviation Ltd. (NASDAQ:FTAI), and Revance Therapeutics, Inc. (NASDAQ:RVNC). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
BioAge Labs, Inc. (NASDAQ: BIOA)
Class Period: pursuant and/or traceable to BioAge’s registration statement for the initial public offering held on or about September 26, 2024
Lead Plaintiff Deadline: March 10, 2025
According to the complaint, on December 6, 2024, BioAge announced that it would discontinue the ongoing STRIDES Phase 2 trial for azelaprag, its lead product candidate, citing safety concerns over elevated liver transaminase levels in participants. This came as a surprise because, at the time of its IPO less than three months earlier, BioAge highlighted azelaprag's potential in patients undergoing obesity therapy with incretin drugs.
Following this news, BioAge’s stock price declined from $20.09 per share on December 6, 2024 to $4.65 per share on December 7, 2024.
For more information on the BioAge class action go to: https://bespc.com/cases/BIOA
Caribou Biosciences, Inc. (NASDAQ: CRBU)
Class Period: July 14, 2023 - July 16, 2024
Lead Plaintiff Deadline: February 24, 2025
Caribou is a clinical-stage biopharmaceutical company that purports to develop genome-edited allogeneic cell therapies for the treatment of hematologic malignancies in the U.S. and internationally. The Company's pipeline includes allogeneic, or "off-the-shelf," cell therapies from its chimeric antigen receptor ("CAR") -T ("CAR-T") cell and CAR-natural killer ("CAR-NK") cell platforms. Allogeneic cell therapies are referred to as "off-the-shelf" because they use cells that have already been collected from a donor, and which were modified, multiplied, and stored in a facility, before being infused into a patient. According to the Company, this affords allogeneic cell therapies numerous advantages over their autologous counterparts, which rely on extracting, modifying, and multiplying a patient's own cells before being infused back into that same patient.
Caribou's lead product candidate is CB-010, an allogeneic anti-CD19 CAR-T cell therapy that the Company is evaluating in patients with, inter alia, relapsed or refractory large B cell non-Hodgkin lymphoma ("r/r B-NHL") in the Company's ongoing ANTLER Phase 1 clinical trial, with a focus on second-line large B cell lymphoma ("LBCL").
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants allegedly made false and/or misleading statements and/or failed to disclose that: (i) they had overstated CB-010's safety, efficacy, and durability relative to approved autologous CAR-T cell therapies in treating patients with r/r B-NHL and/or LBCL, as well as CB-010's overall clinical results and commercial prospects; (ii) Caribou was at significant risk of having insufficient cash, liquidity, and/or other capital to fund its current business operations, including preclinical research activities associated with the allogeneic CAR-NK platform; (iii) all the foregoing was likely to have a significant negative impact on Caribou's business and operations; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times.
On June 2, 2024, Caribou issued a press release announcing that it had "presented updated clinical data from the ongoing ANTLER Phase 1 trial that [purportedly] indicates a single dose of CB-010 . . . has the potential to rival the safety, efficacy, and durability of approved autologous CAR-T cell therapies." The next day, Evercore ISI ("Evercore") analysts downgraded Caribou stock to "in line" and dropped their price target to $3.00 from $13.00, stating that they were "not yet convinced" that Caribou's therapy "will be competitive and wait on the sidelines until data in 1H 2025." In particular, the Evercore analysts stated, inter alia, that "[o]verall, efficacy of CB-010 in 2L [second-line] LBCL is not competitive vs autologous CAR-T with lower response rate and much shorter PFS [progression-free survival]", while also noting additional risks related to CB-010's safety and competition. On this news, Caribou's stock price fell $0.735 per share, or 25.52%, to close at $2.145 per share on June 3, 2024.
Then, on July 16, 2024, Caribou disclosed in a filing with the United States Securities and Exchange Commission that it had "discontinued preclinical research activities associated with its allogeneic CAR-NK platform and reduced its workforce by 21 positions, or approximately 12%", explaining that "[t]he Company is undertaking this reduction to extend its cash runway". On this news, Caribou's stock price fell $0.09 per share, or 3.3%, to close at $2.64 per share on July 17, 2024.
For more information on the Caribou class action go to: https://bespc.com/cases/CRBU
FTAI Aviation Ltd. (NASDAQ:FTAI)
Class Period: July 23, 2024 - January 15, 2025
Lead Plaintiff Deadline: March 18, 2025
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants allegedly failed to disclose to investors: (1) the Company reported one-time engine sales as Maintenance Repair & Overhaul revenue when FTAI only performs limited repair and maintenance work on the engine assets sold; (2) FTAI presents whole engine sales as individual module sales, thereby overstating sales and demand; (3) the Company depreciates engines that are not on lease, which misleadingly lowers the reported cost of goods sold and inflates EBITDA; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the FTAI class action go to: https://bespc.com/cases/FTAI
Revance Therapeutics, Inc. (NASDAQ:RVNC)
Class Period: February 29, 2024 - December 6, 2024
Lead Plaintiff Deadline: March 4, 2025
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the complaint alleges that Defendants failed to disclose to investors that: (1) Revance was in material breach of the Distribution Agreement; (2) the foregoing subjected the Company to an increased risk of litigation, as well as monetary and reputational harm; (3) all the foregoing increased the risk that the Tender Offer would be delayed and/or amended; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
For more information on the Revance class action go to: https://bespc.com/cases/RVNC
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
