SAN DIEGO, March 24, 2025 /PRNewswire/ — Robbins LLP informs stockholders that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Sana Biotechnology, Inc. (NASDAQ: SANA) securities between March 17, 2023 and November 4, 2024. Sana is a biotechnology company that develops ex vivo and in vivo cell engineering programs to purportedly revolutionize treatment across a broad array of therapeutic areas with unmet treatment needs, including, inter alia, oncology, diabetes, central nervous system (“CNS”) disorders, and B-cell-mediated autoimmune diseases.
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The Allegations: Robbins LLP is Investigating Allegations that Sana Biotechnology, Inc. (SANA) Misled Investors Regarding its Ability to Maintain Operations and Advance Product Candidates
According to the complaint, during the class period, defendants failed to disclose that: (i) Sana was at significant risk of having insufficient funds to maintain its current operations and advance one or more of its product candidates; (ii) SC291 in oncology, SC379, and SG299 were less promising than defendants had led investors to believe; (iii) in order to preserve cash and advance its more promising product candidates, Sana was likely to decrease funding for and/or discontinue SC291 in oncology, SC379, and SG299, as well as significantly reduce its headcount; and (iv) accordingly, defendants overstated Sana’s financial capacity to maintain its current operations and advance its existing product candidates. When the truth was revealed, the price of Sana stock fell, harming investors.
What Now: You may be eligible to participate in the class action against Sana Biotechnology, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 20, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP
