SAN DIEGO, Sept. 09, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of purchasers or acquirers of publicly traded Verve Therapeutics, Inc. (NASDAQ: VERV) (“Verve” or the “Company”) securities between August 9, 2022 and April 1, 2024, inclusive (the “Class Period”), charging the Company and certain senior executives with violations of the federal securities laws (collectively, “Defendants”).
Verve investors have until October 28, 2024 to seek appointment as lead plaintiff of the Verve class action lawsuit.
If you purchased Verve securities between August 9, 2022 and April 1, 2024, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/verve/.
You can also contact DiCello Levitt attorneys Brian O’Mara or Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
No Class Has Been Certified. Until class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.
Case Allegations
Verve is a biotechnology company developing single-course gene editing medicines to treat cardiovascular disease. During the Class Period, Verve was conducting the Heart-1 Phase 1b clinical trial of VERVE-101, “a novel, investigational gene editing medicine . . . designed to be a single-course treatment that permanently turns off the PCSK9 gene in the liver to reduce disease-driving low-density lipoprotein cholesterol” (the “VERVE-101 Trial”).
The Verve lawsuit alleges that Defendants made materially false, or misleading statements about the Company’s VERVE-101 Trial and its proprietary lipid nanoparticle (“LNP”) delivery system. Specifically, Defendants did not fully disclose the specific reasons for which enrollment in the VERVE-101 Trial would be halted and overstated the potential of LNP delivery technology while omitting it could be inferior to other viral delivery methods.
The truth was revealed on April 2, 2024 when Verve announced it stopped the VERVE-101 Trial after an individual who had been dosed at 0.45 mg/kg of VERVE-101 suffered an adverse event caused by the LNP delivery technology.
On this news, Verve’s stock price dropped by $4.47, or 34.9%, to close at $8.32 per share on April 2, 2024.
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