NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Bellicum Pharmaceuticals, Inc. (“Bellicum” or the “Company”) (NASDAQ:BLCM) of the April 9, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Bellicum stock or options between May 8, 2017 and January 30, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/BLCM. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Southern District of Texas on behalf of all those who purchased Bellicum securities between May 8, 2017 and January 30, 2018 (the “Class Period”). The case, Kakkar v. Bellicum Pharmaceuticals, Inc. et al, No. 4:18-cv-00338 was filed on February 6, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) a substantial undisclosed risk of encephalopathy was associated with BPX-501, the Company’s lead clinical product candidate designed to improve outcomes for patients undergoing stem cell transplant who lack a matched donor; and (ii) as a result, Bellicum’s public statements were materially false and misleading.
Specifically, after market close on January 30, 2018, Bellicum issued a press release entitled “Bellicum Pharmaceuticals Announces Clinical Hold on BPX-501 Clinical Trials in the United States.” Therein, the Company announced that it had “received notice from the U.S. Food and Drug Administration (FDA) that U.S. studies of BPX-501 have been placed on a clinical hold following three cases of encephalopathy deemed as possibly related to BPX-501.”
On this news, the Company’s share price fell from $8.20 per share on January 30, 2018 to a closing price of $6.08 on January 31, 2018—a $2.12 or a 25.85% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Bellicum’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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