NEW YORK CITY, NY / ACCESSWIRE / November 12, 2024 / Pomerantz LLP is investigating claims on behalf of investors of 2seventy bio, Inc. ("2seventy bio" or the "Company") (NASDAQ:TSVT). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether 2seventy bio and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 25, 2024, 2seventy bio issued a press release announcing that it "will discontinue enrollment in its ongoing Phase 3 KarMMa-9 study evaluating Abecma® (idecabtagene vicleucel; ide-cel) with lenalidomide maintenance versus lenalidomide maintenance alone in patients with newly diagnosed multiple myeloma (NDMM) who have suboptimal response to autologous stem cell transplant." Explaining the decision, the Company's Chief Executive Officer cited "a greatly improved NDMM treatment landscape and . . . our rigorous review of the business case for the KarMMa-9 study".
On this news, 2seventy bio's stock price fell $0.45 per share, or 9.43%, to close at $4.32 per share trading on September 25, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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