INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Securities Class Action Lawsuit Has Been Filed on Behalf of Talis Biomedical Corporation (TLIS) Investors and Encourages Investors to Contact the Firm Before March 8, 2022

NEW YORK–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed on behalf of the acquirers of Talis Biomedical Corporation (“Talis” or the “Company”) in the U.S. District Court for the Northern District of California (NASDAQ: TLIS) Common Stock pursuant to and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s initial public offering in February 2021 (“IPO” or the “Offering”). Investors have until March 8, 2022 to petition the court to appoint a lead plaintiff in the lawsuit.

Talis develops diagnostic tests to enable accurate, reliable, cost-effective and rapid point-of-care molecular testing for infectious diseases and other disorders. The Talis One tests are being developed for respiratory infections, infections related to women’s health, and sexually transmitted infections.

On February 12, 2021, the Company filed its prospectus with the SEC on Form 424B4, which is part of the registration statement. In the IPO, the Company sold 15,870,000 common shares at a price of $16.00 per share. The Company received approximately $232.6 million in net proceeds from the offering. Proceeds from the IPO were said to be used for commercial activities (including hiring and training sales and marketing personnel), research and development, working capital, and other general corporate purposes.

On March 8, 2021, Talis announced that it had withdrawn its Emergency Use Authorization (“EUA”) application for the Talis One COVID-19 test. In a press release, the company announced that “[i]In late February, the FDA informed the company that it cannot ensure that the comparator assay used in the primary study has sufficient sensitivity to support Talis’ EUA application Initiate point-of-care environment” to submit its EUA application “early Q2 2021”. This study “was developed with another comparative assay that Talis believes will address FDA concerns.” On the news, the company’s stock price fell $1.80 per share, or about 12.29%, from 14.65 $ per share to a closing price of $12.85 per share on March 8, 2021.

Then, on August 10, 2021, Talis announced that its “development schedules have been extended by delays in launching [Talis’s] COVID-19 test and production scale.” As a result, Talis expects “[s] to see [its] first significant sales ramp of 2022.” On the news, the company’s stock price fell $0.58 per share, or about 6.47%, from $8.97 per share to a closing price of $8.39 per share on Aug. 11 2021

On August 30, 2021, after the market close, Talis announced that its Chief Executive Officer (“CEO”), Brian Coe, has “resigned” as President, CEO and Director. As a result of this news, the Company’s stock price fell $1.00 per share, or approximately 11.04%, from $9.06 per share to a closing price of $8.06 per share on August 31, 2021.

On November 15, 2021, Talis announced that Brian Blaser had been appointed President, CEO and Director of Talis effective December 1, 2021. However, a week after his appointment, on December 8, 2021, Talis announced that Brian Blaser had resigned from his positions. As a result of this news, the Company’s stock price fell $0.55 per share, or approximately 11.39%, from $4.83 per share to a closing price of $4.28 per share on December 8, 2021.

The lawsuit alleges that the registration statement was false and misleading and failed to disclose material adverse facts. Specifically, Defendants failed to disclose to investors that: (1) the comparator assay in the primary study was not sufficiently sensitive to support Talis’ EUA filing for the Talis One COVID-19 test; (2) as a result, it was likely that Talis would experience delays in obtaining regulatory approvals for the Talis One COVID-19 test; (3) as a result, the Company’s commercialization timeline would be significantly delayed; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked any reasonable basis.

If you have purchased or otherwise acquired Talis securities, have any information, or would like to learn more about these allegations, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at Investigations@kmllp. com or by completing this contact form to discuss your rights or interests in relation to these matters at no cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm focused on securities, antitrust, whistleblower and consumer litigation. The firm’s efforts on behalf of shareholders in securities disputes have resulted in recoveries totaling billions of dollars. For more information about the company, visit Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered an attorney’s advertisement in some jurisdictions under applicable laws and ethics rules.

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