Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against BELLUS Health Inc. (BLU)
THE ANGEL–(BUSINESS WIRE) – Glancy Prongay & Murray LLP (“GPM”) is reminding investors of the upcoming May 17, 2021 deadline to file lead plaintiff motion in the class action lawsuit filed on behalf of investors, BELLUS Health Inc. (” BELLUS “bought or otherwise acquired)” or the securities of the Company (NASDAQ: BLU) between September 5, 2019 and July 5, 2020 inclusive (the “Class Period”).
If you have suffered a loss on your BELLUS investment or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can find your contact information at https://www.glancylaw.com/cases / submit bellus-health -inc /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or email Shareholder@glancylaw.com to learn more about your rights.
BELLUS is a clinical-stage biopharmaceutical company whose lead product is BLU-5937, which is being developed for the treatment of chronic cough and other afferent hypersensitivity disorders.
On July 6, 2020, before the market opened, BELLUS announced the key results of its Phase 2 RELIEF study of BLU-5937 in patients with refractory chronic cough. According to the company, the study “did not achieve statistical significance for the primary endpoint of reducing placebo-adjusted cough frequency at any dose tested”.
In that news, the company’s stock price fell $ 9.05, or 75%, in two consecutive trading sessions, closing at $ 2.97 on July 8, 2020, hurting investors.
The complaint filed in this class action alleges that throughout the collection period the defendants made materially false and / or misleading statements and did not disclose material adverse facts about the business, business and prospects of the company. In particular, the complaint alleges that defendants knew, but failed to disclose, that while the “high selectivity” of BLU-5937 contributed to the drug that caused little or no taste changes in patients with chronic cough, this high selectivity did, too contributed to the drug’s potentially less effective and therefore unlikely to be able to meet the primary endpoint of the company’s Phase 2 study.
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If you purchased or otherwise acquired BELLUS securities during the class period, you may request the court to appoint you as the lead plaintiff in this alleged class action no later than May 17, 2021. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action, or if you have any questions about this announcement or your rights or interests in relation to the pending class action, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, toll free at 888-773-9224, email firstname.lastname@example.org, or visit our website at www.glancylaw.com. When inquiring by email, please include your postal address, telephone number and the number of shares purchased.
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