Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed against Talis Biomedical Corporation in the United States District Court for the Northern District of California

THE PLAINTIFF’S PERIOD IS MARCH 8, 2022

NEW YORK, Jan. 14, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that on behalf of persons and entities representing Talis Biomedical Corporation (“Talis” or the “Company”) (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”).

All investors who bought the shares of Talis Biomedical Corporation, Inc. and any losses suffered are urged to contact the company immediately classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You can get additional information about the promotion or join the case on our website, www.whafh.com.

If you have suffered losses at Talis Biomedical Corporation, you have no later than March 8, 2022 to apply for the court to appoint you as lead plaintiff in the proposed class action. Please contact Wolf Haldenstein to find out more about your rights as an investor in Talis Biomedical Corporation.

PLEASE CLICK HERE TO JOIN THE CASE

In February 2021, Talis completed its IPO, selling 15,870,000 common shares at $16.00 per share.

On March 8, 2021, Talis announced that it had withdrawn its EUA application for the Talis One COVID-19 test.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 designed with another comparative study that Talis believes will address the FDA’s concerns.”

As a result of this news, the company’s share price fell $1.80, or 12%, to close at $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 in 2022.”

As a result of this news, the company’s share price fell $0.58, or 6%, on unusually high trading volume to close at $8.39 per share on August 11, 2021.

On August 30, 2021, after the market close, Talis announced that its Chief Executive Officer, Brian Coe, has “resigned” as President, CEO and Director. As a result of this news, the company’s share price fell $1.00, or 11%, on unusually high trading volume to close at $8.06 per share on August 31, 2021.

On November 15, 2021, Talis announced that Brian Blaser had been appointed President, Chief Executive Officer 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 posts. As a result of this news, the company’s stock price fell $0.55 per share, or more than 11%, to close at $4.28 per share on December 8, 2021.

Wolf Haldenstein has extensive experience pursuing securities class actions and derivatives disputes in state and federal courts and appellate courts across the country. The firm has attorneys in various areas of law; and offices in New York, Chicago and San Diego. This firm’s reputation and expertise in shareholder and other class actions has been recognized repeatedly by the courts, which have assigned it significant positions in complex multiple district and consolidated securities disputes.

If you would like to discuss this action, or have any questions about your rights and interests in this matter, please contact Wolf Haldenstein immediately by phone at (800) 575-0735 or email classmember@whafh.com or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Head of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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


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