Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Gritstone, and Rivian and Encourages Investors to Contact the Firm

Gritstone bio, Inc. (NASDAQ: GRTS) - Gritstone bio is a clinical-stage biotechnology company focused on developing vaccine-based immunotherapy candidates for cancer and infectious diseases [1] - The company entered a contract with BARDA for a 10,000 participant Phase 2b study of its COVID-19 vaccine candidate, which is fully funded by BARDA and expected to launch in Q1 2024 [2] - During the class period, Gritstone allegedly made false statements regarding its ability to launch the Phase 2b study on time, which impacted its funding and financial position [3] - On February 12, 2024, Gritstone announced a delay in the study launch to Fall 2024, citing the need for GMP-grade raw materials [4] - Following the delay, Gritstone reduced its workforce by approximately 40% and experienced a stock price drop of 27.86%, closing at $2.02 per share on March 1, 2024 [4] Rivian Automotive, Inc. (NASDAQ: RIVN) - Rivian Automotive is an electric vehicle manufacturer that faced allegations of overstating demand for its EVs and concealing the impact of inflation and interest rates on demand [5] - The company reported a planned production of only 57,000 EVs in 2024, significantly below the 80,000 expected by analysts, along with an adjusted EBITDA loss of $2.7 billion [5] - Rivian's stock price fell by 25.6%, closing at $11.45 per share on February 22, 2024, following the announcement of its financial results and production targets [5]