SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Graphite Bio, Inc. – GRPH
NEW YORK, March 26, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Graphite Bio, Inc. (“Graphite” or the “Company”) (NASDAQ: GRPH). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Graphite and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around June 25, 2021, Graphite conducted its initial public offering (“IPO”), issuing 14 million shares of common stock priced at $17.00 per share. Then, on March 21, 2022, Graphite issued a press release providing business updates and announcing is fourth quarter and fiscal year 2021 financial results. Among other items, Graphite disclosed that the early proof-of-concept data from the Phase 1/2 CEDAR clinical trial for GPH101 in sickle cell disease are now expected in 2023, attributing the delay “to impacts of the recent COVID-19 Omicron variant surge on patients and site resources and operations[.]”
On this news, Graphite’s stock price fell $1.23 per share, or 15.15%, to close at $6.89 per share on March 21, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
This is not a CAPTIS article. Originally, it was published here.