Core Viewpoint - Gritstone bio, Inc. is facing significant challenges following the announcement of a workforce reduction and delays in its COVID-19 vaccine study, leading to a substantial drop in stock price and potential legal actions from investors [2][5][6]. Group 1: Company Developments - On February 29, 2024, Gritstone announced a reduction of approximately 40% of its workforce due to a delay in the proposed CORAL Phase 2b study, which impacted expected external funding [5]. - The company disclosed on February 12, 2024, that the launch of its COVID-19 vaccine study would be delayed from Q1 2024 to Fall 2024 to ensure the use of fully GMP-grade raw materials [6]. - Throughout the Class Period, Gritstone allegedly made materially false and misleading statements regarding its business operations and prospects, failing to disclose the inability to launch the Phase 2b CORAL Study as previously represented [6]. Group 2: Investor Impact - Following the news of workforce reduction and study delays, Gritstone's stock price fell by $0.78, or 27.9%, closing at $2.02 per share on March 1, 2024, resulting in investor injuries [2]. - Investors who purchased Gritstone securities during the Class Period (March 9, 2023, to February 29, 2024) have until August 6, 2024, to file a lead plaintiff motion in a class action lawsuit [4][3].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Gritstone bio, Inc. securities between March 9, 2023, and February 29, 2024, of the August 6, 2024, lead plaintiff deadline for a class action lawsuit [1]. Group 1: Class Action Details - A class action lawsuit has been filed against Gritstone bio, Inc. for allegedly making false and misleading statements regarding its COVID-19 vaccine candidate and its ability to launch the Phase 2b CORAL Study [9]. - Investors who purchased Gritstone securities during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [8]. - The lawsuit claims that Gritstone overstated its ability to develop and commercialize its products, leading to investor damages when the true details were revealed [9]. Group 2: Legal Representation - Investors are encouraged to select qualified legal counsel with a proven track record in securities class actions, as many firms may not have the necessary experience or resources [2]. - Until a class is certified, investors are not represented by counsel unless they retain one, and they may choose to remain absent from the class [3]. - To serve as lead plaintiff, investors must file a motion with the court by August 6, 2024 [4].

Shareholders who purchased shares of GRTS during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. https://securitiesclasslaw.com/securities/gritstone-loss-submission-form/?id=86290&from=4 ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company would be unable ...

LOS ANGELES, June 19, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Gritstone bio, Inc. ("Gritstone" or "the Company") (NASDAQ: GRTS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. If you are a shareholder who suffered a loss, click here to participate. The class, in this case, has not yet been cer ...

Core Viewpoint - Gritstone bio, Inc. is facing a class action lawsuit due to allegations of misleading investors regarding its business operations and the launch of its COVID-19 vaccine candidate [3][6][7]. Group 1: Allegations and Impact - The lawsuit claims that Gritstone made false and/or misleading statements about its ability to launch the Phase 2b CORAL Study within the timeframe promised to investors [3]. - It is alleged that Gritstone's inability to launch the study would impair its ability to secure external funding, negatively affecting its balance sheet and cash position [3]. - The lawsuit asserts that Gritstone overstated its capability to successfully develop and commercialize its products, leading to materially false and misleading public statements [3]. Group 2: Class Action Details - Shareholders who purchased Gritstone securities between March 9, 2023, and February 29, 2024, are eligible to participate in the class action [6]. - The deadline for filing a motion to be appointed as lead plaintiff is August 6, 2024 [2][6]. - Investors do not need to participate in the case to be eligible for recovery and can remain absent class members if they choose [2].

Core Viewpoint - The article discusses a class action lawsuit against Gritstone bio, Inc. (NASDAQ: GRTS) due to allegations of misleading statements regarding the company's COVID-19 vaccine development and its financial implications for investors [2][4]. Allegations - The complaint alleges that Gritstone made materially false and misleading statements, failing to disclose that it would be unable to launch the Phase 2b CORAL Study for its COVID-19 vaccine as previously represented [2]. - This inability to launch the study is said to impair Gritstone's ability to secure external funding, negatively affecting its balance sheet and cash position [2]. - Consequently, Gritstone is accused of overstating its capability to develop and commercialize its products, leading to materially false public statements throughout the relevant period [2]. Class Action Details - The class period for the lawsuit is defined as March 9, 2023, to February 29, 2024, with a deadline for shareholders to seek lead plaintiff status set for August 6, 2024 [6]. - Shareholders who purchased GRTS shares during this period are encouraged to register for the class action, with no cost or obligation to participate [3][6]. - The Gross Law Firm, which is handling the case, emphasizes its commitment to protecting investors' rights against deceit and fraud [6].

CONTACT US HERE: ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company would be unable to launch the Phase 2b CORAL Study, it's approved COVID-19 vaccine, in the timeframe it had represented to investors; (ii) the foregoing would impair Gritstone's ability to obtain external funding in connection with the Study, thereby negatively affecting Gritstone's ability to maintain its balance sh ...

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. According to the complaint, in September 2023, Gritstone entered into a contract with the Biomedical Advanced Research and Development Authority ("BARDA") to run a 10,000 participant, randomized Phase 2b double-blinded study to compare the efficacy, safety, and immunogenicity of its COVID-19 vaccine candidate (a samRNA vaccine candidate) with an approved COVID-19 vaccine (the "Phase 2b CORAL Study" or ...

If you are a shareholder who purchased or otherwise acquired Gritstone securities during the Class Period, you have until August 6, 2024 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shar ...

EMERYVILLE, Calif., June 13, 2024 (GLOBE NEWSWIRE) -- Gritstone bio, Inc. (Nasdaq: GRTS), a clinicalstage biotechnology company that aims to develop the world's most potent vaccines, today announced that the Compensation Committee of the company's Board of Directors granted one employee nonqualified stock options to purchase an aggregate of 6,850 shares of its common stock with an exercise price of $0.75, which is equal to the closing price of Gritstone's common stock on June 7, 2024, the date of the grant. ...