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Contact The Gross Law Firm by May 20, 2025 Deadline to Join Class Action Against Sana Biotechnology, Inc. (SANA)
Sana BiotechnologySana Biotechnology(US:SANA) GlobeNewswire News Roomยท2025-03-31 17:01

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Sana Biotechnology, Inc. regarding a class action lawsuit due to alleged misleading statements and financial misrepresentations during a specified class period [1][3]. Summary by Relevant Sections Class Period and Allegations - The class period for the lawsuit is from March 17, 2023, to November 4, 2024 [3]. - Allegations include that Sana was at significant risk of insufficient funds to maintain operations and advance product candidates [3]. - Specific product candidates, SC291 in oncology, SC379, and SG299, were claimed to be less promising than represented [3]. - To preserve cash, Sana was likely to decrease funding for certain product candidates and significantly reduce its workforce [3]. - The defendants allegedly overstated Sana's financial capacity, leading to materially false and misleading public statements [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by May 20, 2025, to participate in potential recovery [4]. - Registration includes enrollment in a portfolio monitoring software for status updates throughout the case [4]. Firm's Commitment - The Gross Law Firm aims to protect investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [5].