Public

On November 16, 2021, the company disclosed that "a planned futility analysis of ensovibep in [an] ongoing [Phase 3] clinical study . . . has not met the thresholds required to continue enrollment of adults with COVID-19 in the hospitalized setting." It means that futility analysis had shown that ensovibep was less effective at treating COVID-19 than the company had led investors to believe.

Molecular Partners' ADS price fell 31.37%, to close at $10.15. 

Back on June 16, 2021, the Company conducted an IPO of 3 million ADSs at a public offering price of $21.25. In its IPO documents, Molecular Partners overstated the clinical and commercial prospects of ensovibep, damaging the investors.

Molecular Partners AG ADR

Attorney Investigation

Misleading Statements

Financial Misrepresentation

Failure to Disclose

Breach of Fiduciary duty

Omissions

Directors

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Stocks

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Molecular Partners AG, a clinical-stage biotechnology company, develops designed ankyrin repeat proteins therapeutics for the treatment of oncology and virology diseases in Switzerland. The company develops MP0317, a CD40 agonist designed to activate immune cells within the tumor microenvironment by anchoring to fibroblast activation protein that is in Phase I clinical trial; and MP0533, a novel tetra-specific T cell-engaging DARPin for acute myeloid leukemia. It also develops Switch-DARPin platform, a multispecific cKIT x CD16a x CD47 Switch-DARPin program for targeted and conditional immune cell activation; and Radio-DARPin Therapy (RDT) platform, a delivery system for effective and selective delivery of radioactive payloads to solid tumors. It has license and research collaboration agreements with Novartis Pharma AG to develop DARPin-conjugated radioligand therapies; and collaboration agreement with Orano Med SAS to develop novel Radio-DARPin therapeutics. Molecular Partners AG was incorporated in 2004 and is headquartered in Schlieren, Switzerland.

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