NEW YORK, NY / ACCESSWIRE / March 25, 2021 / Pomerantz LLP is investigating claims on behalf of investors of Vir Biotechnology, Inc. ("Vir" or the "Company") (NASDAQ:VIR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Vir and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 3, 2021, Vir and its development partner GlaxoSmithKline plc ("GSK") issued a press release "provid[ing] an update on the VIR-7831 (GSK4182136) arm of the National Institutes of Health's (NIH) Accelerating COVID-19 Therapeutic Interventions and Vaccines (ACTIV) Program Phase 3 clinical trial." Specifically, Vir and GSK "were informed that while VIR-7831 met initial pre-specified criteria to continue to the next phase of the ACTIV-3 trial and there were no reported safety signals, sensitivity analyses of the available data raised concerns about the magnitude of potential benefit" and that, accordingly, "[t]he independent Data and Safety Monitoring Board (DSMB) has recommended that the VIR-7831 arm of the trial be closed to enrollment while the data mature." On this news, Vir's stock price fell sharply during intraday trading on March 3, 2021, damaging investors.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
View source version on accesswire.com: