SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) (http://www.rgrdlaw.com/cases/bellicum/) today announced that a class action has been commenced on behalf of purchasers of Bellicum Pharmaceuticals, Inc. (“Bellicum”) (NASDAQ:BLCM) securities during the period between May 8, 2017 and January 30, 2018 (the “Class Period”). This action was filed in the Southern District of Texas and is captioned Rudy v. Bellicum Pharmaceuticals, Inc., et al., No. 18-cv-00795.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from February 6, 2018. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, David C. Walton of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at davew@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed at http://www.rgrdlaw.com/cases/bellicum/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Bellicum and certain of its officers and/or directors with violations of the Securities Exchange Act of 1934. Bellicum operates as a clinical-stage biopharmaceutical company focused on discovering and developing novel cellular immunotherapies for various forms of cancer. The Company’s lead product candidate is BPX-501, an adjunct T-cell therapy administered after allogeneic hematopoietic stem cell transplantation (“HSCT”), also known as bone marrow transplantation. During the Class Period, Bellicum represented that BPX-501 was in multiple clinical trials to evaluate the drug’s ability to improve patient outcomes by enhancing the recovery of the immune system following an HSCT procedure.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding BPX-501, Bellicum’s lead product candidate. Specifically, defendants failed to disclose that a substantial undisclosed risk of encephalopathy (brain damage) was associated with BPX-501. As a result of defendants’ false statements and/or omissions, the price of Bellicum shares was artificially inflated during the Class Period, with its stock price reaching a high of $13.98 per share on June 22, 2017.
Then on January 30, 2018, after the market closed, Bellicum announced 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. Bellicum is awaiting formal communications from the FDA to determine the requirements for resuming studies, and will be working closely with the FDA to address their questions.” On this news, the price of Bellicum stock fell $2.12 per share, or more than 25%, to close at $6.08 per share on January 31, 2018.
Plaintiff seeks to recover damages on behalf of all purchasers of Bellicum securities during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.
Robbins Geller is widely recognized as a leading law firm advising and representing U.S. and international investors in securities litigation and portfolio monitoring. With 200 lawyers in 10 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For the third consecutive year, the Firm ranked first in both the total amount recovered for investors and the number of shareholder class action recoveries in ISS's SCAS Top 50 Report. Robbins Geller attorneys have shaped the law in the areas of securities litigation and shareholder rights and have recovered tens of billions of dollars on behalf of the Firm’s clients. Robbins Geller not only secures recoveries for defrauded investors, it also implements significant corporate governance reforms, helping to improve the financial markets for investors worldwide. Please visit http://www.rgrdlaw.com for more information.
