Unite with Fellow Investors
Choose the Best Attorney
Follow Case Progress
id: 191, Created by , Scout
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
S.D. New YorkCourt
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.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
16 November 2021