Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against BELLUS Health Inc. (BLU)
Apr 08, 2021 12:41 PM ET
Legal Newswire POWERED BY LAW.COM
Law Offices of Howard G. Smith reminds investors of the upcoming May 17, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased BELLUS Health Inc. securities between September 5, 2019 and July 5, 2020, inclusive (the "Class Period").
Investors suffering losses on their BELLUS investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected]
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 hypersensitization-related disorders.
On July 6, 2020, before the market opened, BELLUS announced topline results from its Phase 2 RELIEF trial of BLU-5937 in patients with refractory chronic cough. According to the Company, the trial "did not achieve statistical significance for the primary endpoint of reduction in placebo-adjusted cough frequency at any dose tested."
On this news, the Company's stock price fell $9.05, or 75%, over two consecutive trading sessions to close at $2.97 on July 8, 2020, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the complaint alleges that Defendants knew, but failed to disclose, that while BLU-5937's "high selectivity" contributed to the drug causing little to no taste alteration in chronic cough patients, that high selectivity also contributed to the drug potentially being less efficacious and thus likely not be able to meet the primary endpoint of the Company's Phase 2 trial.
If you purchased or otherwise acquired BELLUS securities during the Class Period, you may move the Court no later than May 17, 2021 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
Contact Information:Law Offices of Howard G. Smith
Howard G. Smith, Esquire
Tags: Wire, Legal Newswire, United States, English