Sana Biotechnology(SANA) Prnewswire·2025-03-25 13:31Core Viewpoint - A class action lawsuit has been filed against Sana Biotechnology, Inc. for alleged violations of securities laws, claiming the company made false and misleading statements regarding its financial health and product candidates [1][4]. Group 1: Lawsuit Details - The lawsuit is based on violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors who purchased securities between March 17, 2023, and November 4, 2024, are encouraged to participate in the lawsuit [2]. - The class has not yet been certified, meaning potential participants are not currently represented by an attorney [3]. Group 2: Allegations Against the Company - The complaint alleges that Sana Biotechnology made false and misleading statements about its funding and product candidates [4]. - The company reportedly faced significant risks regarding insufficient funding to maintain operations and advance product candidates [4]. - It is claimed that several product candidates were less promising than represented, leading to potential funding cuts and layoffs to preserve cash for more promising candidates [4]. - The company's public statements were deemed false and materially misleading, resulting in investor damages when the truth emerged [4].