Gritstone bio, Inc. (NASDAQ: GRTS)

This lawsuit is for anyone who acquired securities in Gritstone bio, Inc. (NASDAQ: GRTS) from March 9, 2023 through February 29, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that it would not be able to meet its previously disclosed timeline for clinical trials of its COVID-19 vaccine candidate, thereby causing the trials to experience funding problems, and further making it less likely that the Company will ever be able to monetize the drug.

On February 29, 2024, Gritstone announced that it was reducing approximated 40% of its workforce, stating that “[t]he move comes following the recently announced delay of the proposed CORAL Phase 2b study, which resulted in Gritstone not receiving external funding it previously anticipated beginning in 1Q 2024, associated with the initiation of the study.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Gritstone bio, Inc. (NASDAQ: GRTS) from March 9, 2023 through February 29, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.