Yahoo Finance SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors Generation Bio Co. - GBIO
NEW YORK, Dec. 19, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Generation Bio Co. (“Generation” or the “Company”) (NASDAQ: GBIO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Generation Bio and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around June 11, 2020, Generation conducted its initial public offering (“IPO”), selling 12,105,263 shares of common stock priced at $19.00 per share. Then, on December 14, 2021, Generation issued a press release that “provided an update on factor VIII expression from a series of mouse and companion non-human primate (NHP) studies in hemophilia A, as well as an update on the development of its non-viral genetic medicine platform. GeneratioN’s proprietary genetic medicine technology comprises a closed-ended DNA (ceDNA) delivered via a novel, cell-targeted lipid nanoparticle (ctLNP).” Generation disclosed results that showed that in mice, ceDNA generated peak mean human factor VIII expression of 205% of normal at 2.0 mg/kg, and advised that “[a]dditional optimization is needed to translate the improvement in potency and reduction in variability observed in mice to [non-human primates], and to support nomination of a development candidate for the company’s hemophilia A program[.]”
On this news, Generation’s stock price fell $7.91 per share, or 56.91%, to close at $7.91 per share on December 14, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
