Federal Securities Class Action Filed Against Bellicum Pharmaceuticals
Kehoe Law Firm, P.C. continues its investigation of Bellicum Pharmaceuticals (NASDAQ:BLCM) and reports that on February 6, 2018, a class action lawsuit was filed in United States District Court, Southern District of Texas, Houston Division, against Bellicum Pharmaceuticals and certain BLCM officers to recover damages for the Bellicum Defendants’ alleged violations of the federal securities laws.
The class action lawsuit was brought on behalf of a class consisting of all persons (other than the Defendants) who purchased, or otherwise acquired, Bellicum’s securities between May 8, 2017 and January 30, 2018, both dates inclusive (the “Class Period”).
According to the class action complaint:
[Bellicum’s] lead clinical product candidate, BPX-501, is an adjunct T-cell therapy administered after allogeneic hematopoietic stem cell transplantation (“HSCT”). Bellicum has represented that BPX-501 is currently being evaluated in multiple Phase 1/2 clinical trials.
Throughout the Class Period, [the Bellicum] Defendants made materially false and misleading statements regarding [Bellicum’s] business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) a substantial undisclosed risk of encephalopathy was associated with [Bellicum’s] lead product candidate BPX-501; and (ii) as a result of the foregoing, Bellicum’s public statements were materially false and misleading at all relevant times.
On January 30, 2018, post-market, Bellicum issued a press release entitled “Bellicum Pharmaceuticals Announces Clinical Hold on BPX-501 Clinical Trials in the United States,” announcing 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, Bellicum’s share price fell $2.12, or 25.85%, to close at $6.08 on January 31, 2018.
Bellicum Pharmaceuticals Shareholders and Investors
If you purchased, or otherwise acquired, BLCM securities between May 8, 2017 and January 30, 2018, both dates inclusive, and wish to discuss your potential legal rights or claims, please contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], complete the form above on the right or e-mail [email protected].