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LOS ANGELES, April 16, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Sana Biotechnology, Inc. ("Sana" or the "Company") (NASDAQ: SANA) investors of a class action representing investors that bought securities between March 17, 2023 to November 4, 2024, inclusive (the "Class Period"). SANA investors have until May 20, 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The complaint alleges that, during the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Sana was at significant risk of lacking sufficient capital to sustain its current operations and continue development of one or more of its product candidates; (ii) the Company’s programs—SC291 in oncology, SC379, and SG299—were less promising than Defendants had represented to investors; (iii) to conserve cash and prioritize its more promising pipeline assets, Sana was likely to reduce funding for, or discontinue, SC291 in oncology, SC379, and SG299, and significantly cut its workforce; (iv) as a result, Defendants overstated the Company’s financial ability to maintain its operations and advance its product pipeline; and (v) consequently, Defendants’ public statements were materially false and/or misleading throughout the Class Period.
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