Sana Biotechnology(US:SANA) Prnewswireยท2025-05-15 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Sana Biotechnology, Inc. regarding a class action lawsuit due to allegations of misleading statements and financial misrepresentation during a specified class period [1][2]. Group 1: Allegations Against Sana Biotechnology - The complaint alleges that Sana was at significant risk of having insufficient funds to maintain its current operations and advance its product candidates [1]. - It is claimed that product candidates SC291 in oncology, SC379, and SG299 were less promising than previously communicated to investors [1]. - To preserve cash and focus on more promising candidates, Sana is likely to decrease funding for SC291, SC379, and SG299, and significantly reduce its workforce [1]. - The defendants allegedly overstated Sana's financial capacity to maintain operations and advance existing product candidates [1]. - As a result, the public statements made by the defendants were materially false and/or misleading throughout the relevant period [1]. Group 2: Class Action Participation - Shareholders who purchased shares of SANA during the class period from March 17, 2023, to November 4, 2024, are encouraged to register for the class action [2]. - The deadline for shareholders to seek lead plaintiff status is May 20, 2025, and there is no cost or obligation to participate [2]. - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates on the case [2]. Group 3: About The Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].