NEW YORK, May 17, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Molecular Partners AG (“Molecular Partners” or the “Company”) (NASDAQ: MOLN). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Molecular Partners and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On or around June 16, 2021, Molecular Partners conducted its U.S. initial public offering (“IPO”), offering 3 million American Depositary Shares (“ADS”) priced at $21.25 per ADS. Then, on April 26, 2022, Molecular Partners issued a press release “announc[ing] that Amgen, its collaboration partner for MP0310 (AMG 506), has informed the Company of their decision to return global rights of MP0310 to Molecular Partners following a strategic pipeline review” and that “Molecular Partners is presently conducting a phase 1 study of MP0310 and will look to present full phase 1 data at a scientific conference when available.” The press release further stated that “[u]nder the agreement with Amgen, following Phase 1 data, Amgen would have had the right to progress the program into later stage development, including into combination trials.” On this news, Molecular Partners’ ADS price fell sharply during intraday trading on April 27, 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
- OBI Pharma Announces Discontinuation of the Phase 1/2 Study of its Antibody- OBI 888 to focus on other priority Cancer programs - July 5, 2022
- embecta Announces Earnings Conference Call Information for the Third Quarter of Fiscal Year 2022 - July 5, 2022
- Vornado Completes Sale of Long Island City Office Building for $172.8 Million - July 5, 2022