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Talis Biomedical Corporation Investigation


The law firm of Kirby McInerney LLP is investigating potential claims against Talis Biomedical Corporation (“Talis” or the “Company”) (NASDAQ: TLIS). The investigation concerns whether Talis has violated the federal securities laws and/or engaged in other unlawful business practices.
 
On August 10, 2021, Talis reported its second quarter 2021 financial results. During the related conference call, the Company revealed that its “development time lines have been extended by delays in the launching of [Talis’] COVID-19 test and manufacturing scale.” On this news, the Company’s stock price declined by $0.58 per share, or approximately 6.5%, from $8.97 per share to close at $8.39 per share on August 11, 2021.
 
Then, on August 30, 2021, after the market closed, Talis announced that its Chief Executive Officer (“CEO”), Brian Coe, had “stepped down.” On this news, the Company’s stock price declined by $1.00 per share, or approximately 11%, from $9.06 per share to close at $8.06 per share on August 31, 2021.
 
Then, on December 8, 2021, Talis announced that Brian Blaser, who had been appointed as CEO on November 15, 2021, had stepped down from his positions. On this news, the Company’s stock price declined by $0.55 per share, or approximately 11.4%, from $4.83 per share to close at $4.28 per share on December 8, 2021.
 

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