According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- the MOLBREEVI (a clinical trial for the treatment of a rare lung disease) Biologics License Application (“BLA”) lacked sufficient information regarding MOLBREEVI’s chemistry, manufacturing, and/or controls;
- accordingly, the FDA was unlikely to approve the MOLBREEVI BLA in its current form;
- the foregoing made it unlikely that Savara would complete submission of the MOLBREEVI BLA within the timeframe that Savara had represented to investors;
- the delay in MOLBREEVI’s regulatory approval increased the likelihood that Savara would need to raise additional capital; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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