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MOLN.US
id: 191
S.D. New York
CourtOn 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.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
16 November 2021