SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Gritstone

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Gritstone bio, Inc. due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by August 6, 2024 [2][4]. Group 1: Allegations Against Gritstone - The complaint alleges that Gritstone and its executives made false and misleading statements regarding the launch of the Phase 2b CORAL Study, which they would be unable to initiate as previously represented [4]. - The delay in launching the study is said to impair Gritstone's ability to secure external funding, negatively impacting its financial stability and cash position [4]. - Gritstone is accused of overstating its capability to develop and commercialize its products, leading to materially false and misleading public statements [4]. Group 2: Impact on Company Operations - On February 12, 2024, Gritstone announced a delay in the launch of the CORAL Study until Fall 2024 to use fully GMP-grade raw materials, which is expected to enhance regulatory utility [5]. - Following this announcement, on February 29, 2024, Gritstone reported a workforce reduction of approximately 40%, attributed to the delay in the study and the lack of anticipated external funding [5]. - The stock price of Gritstone fell by $0.78 per share, or 27.86%, closing at $2.02 per share on March 1, 2024, due to the negative impact of these developments [6]. Group 3: Legal Proceedings and Investor Actions - Investors who suffered losses exceeding $25,000 between March 9, 2023, and February 29, 2024, are encouraged to contact Faruqi & Faruqi to discuss their legal options [1]. - The role of lead plaintiff in the class action is open to any member of the putative class, who can either move the court to serve as lead plaintiff or remain an absent class member [7]. - Faruqi & Faruqi is also seeking information from whistleblowers, former employees, and shareholders regarding Gritstone's conduct [8].