NEW YORK, April 11, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Kaleido Biosciences, Inc. (“Kaleido Biosciences” or the “Company”) (Nasdaq: KLDO).
On September 3, 2021, Kaleido Biosciences filed a Form 8-K with the SEC disclosing that on August 27, 2021, “the Company received a Warning Letter from the U.S. Food and Drug Administration (FDA) for failure to submit an investigational new drug application (IND) prior to conducting two clinical studies, K031 and K032, of the Company’s MMT KB109 in subjects with COVID-19.” The Company also stated that the Warning Letter followed receipt of a Form FDA 483 that was provided to the Company in March 2021 at the conclusion of a clinical inspection. Following this news, Company shares fell 5.5% to close at $6.01 per share on September 7, 2021, the first trading day following the news.
Subsequently, on October 5, 2021, the Company disclosed non-IND results for its therapy candidate KB295 evaluating Microbiome Metabolic Therapy in its controlled non-IND clinical study K030 in subjects with mild-to-moderate ulcerative colitis. Following this news, Company shares fell over 9.6% to close at $5.26 per share on October 5, 2021.
Then, on January 28, 2022, after market, the Company filed a Form 8-K with the SEC stating that the Company had decided to halt work on a planned Phase 2 chronic obstructive pulmonary disease study. Following this news, Company shares fell 8% to close at $1.74 per share on January 28, 2022.
Finally, on April 8, 2022, the Company disclosed that it had delivered formal notice to the Nasdaq Stock Market that the Company intends to voluntarily delist its common stock from the Nasdaq in connection with the Company’s cessation of all operations. Following this news, Kaleido Biosciences shares fell nearly 82% to close at $0.2699 per share on April 8, 2022.
If you purchased or otherwise acquired Kaleido Biosciences securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
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Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
