SAN DIEGO & HOUSTON--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that a class action complaint was filed against Bellicum Pharmaceuticals, Inc. (NasdaqGM: BLCM). The complaint is brought on behalf of all purchasers of Bellicum securities between May 8, 2017 and January 30, 2018, for alleged violations of the Securities Exchange Act of 1934 by Bellicum's officers and directors. Bellicum, a clinical stage biopharmaceutical company, develops novel cellular immunotherapies for the treatment of hematological cancers, solid tumors, and orphan inherited blood disorders. The company's lead product candidate, BPX-501, is an adjunct T-cell therapy administered after allogeneic hematopoietic stem cell transplantation.
View this information on the law firm's Shareholder Rights Blog:
Bellicum Accused of Hiding Serious Adverse Effects of its Drug
According to the complaint, on May 8, 2017, Bellicum announced that it experienced a productive first quarter across its pipeline and presented clinical data highlighting BPX-501's potential to transform lives. Bellicum went on to state that BPX-501 showed a low incidence of transplant-related mortality, rapid immune recovery, and no serious adverse events associated with its use. Despite sharing a plethora of positive news about BPX-501, Bellicum hid from investors that a substantial risk of encephalopathy-a chronic, degenerative disease of the brain-was associated with the drug. The truth came to light on January 30, 2018, when Bellicum announced that it received notice from the U.S. Food and Drug Administration that studies of BPX-501 have been placed on a clinical hold following three cases of encephalopathy possibly related to BPX-501. On this news, Bellicum's stock fell $2.12 per share, or over 25%, to close at $6.08 per share on January 31, 2018.
Bellicum Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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