BELLUS Health Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired BELLUS Health Inc. (“BELLUS” or the “Company”) (NASDAQ: BLU) securities from September 5, 2019 through July 5, 2020 (the “Class Period”). Investors have until May 17, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
BELLUS is a clinical-stage biopharmaceutical company whose lead product is BLU-5937, which is being developed for the treatment of chronic cough (one that lasts over eight weeks) and other afferent hypersensitization-related disorders. The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts about BELLUS's business, operations, drug products, drug product development, competition, and present and future business prospects. Specifically, Defendants misrepresented and/or failed to disclose that BLU-5937s "high selectivity" contributed to the drug potentially being less efficacious and thus likely unable to meet the primary endpoint of the Company's Phase 2 study. As a result, when Defendants announced before markets opened on July 6, 2020, that BLU-5937 had failed the Phase 2 study, the Company's stock price plummeted over 75% on heavy trading volume.
If you purchased or otherwise acquired BELLUS securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.