Kehoe Law Firm, P.C. is investigating whether Talis Biomedical Corporation (“Talis” or the “Company”) (NASDAQ: TLIS) violated federal securities laws.
TLIS INVESTORS WHO ACQUIRED THEIR SECURITIES PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH THE COMPANY’S FEBRUARY 2021 INITIAL PUBLIC OFFERING (“IPO”) ARE ENCOURAGED TO DISCUSS JOINING THE CLASS ACTION BY CLICKING “JOIN THE CLASS ACTION” OR “SECURITIES CLASS ACTION QUESTIONNAIRE.”
On January 7, 2022, a class action lawsuit was filed in United States District Court, Northern District of California, on behalf of persons and entities that purchased, or otherwise acquired, Talis common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 IPO.
The Registration Statement, according to the complaint, was materially false and misleading and omitted to state (1) that the comparator assay in the primary study lacked sufficient sensitivity to support Talis’s EUA application for Talis One COVID-19 test; (2) as a result, Talis was reasonably likely to experience delays in obtaining regulatory approval for the Talis One COVID-19 test; (3) as a result, the Company’s commercialization timeline would be significantly delayed; and (4) as a result of the foregoing, the Talis Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.