Investors with losses are encouraged to contact the firm before May 17, 2021 ; click here to submit trade information
The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Bellus Health, Inc. (NASDAQ: BLU) investors that acquired shares between September 5, 2019 and July 5, 2020. Investors have until May 17, 2021 to seek an active role in this litigation.
Before the market opened on July 6, 2020, BELLUS announced topline results from its Phase 2 RELIEF trial of BLU-5937 in patients with refractory chronic cough. According to Bellus, the trial "did not achieve statistical significance for the primary endpoint of reduction in placebo-adjusted cough frequency at any dose tested."
Bellus' stock price fell $9.05, or 75%, on this news, over two consecutive trading sessions to close at $2.97 on July 8, 2020, thereby injuring investors.
It is alleged in this complaint that Bellus made materially misleading and/or false statements, as well as failed to disclose material adverse facts about Bellus' business, operations, and prospects. Specifically, the complaint alleges that Bellus knew, and failed to disclose, that while BLU-5937's "high selectivity" contributed to the drug causing little to no taste alteration in chronic cough patients, 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.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar