A securities class action has been filed in the USDC — MA. against Verve Therapeutics, Inc. (VERV) (“Verve Therapeutics” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Verve Therapeutics securities between August 9, 2022 and April 1, 2024, both dates inclusive (the “Class Period”).
Verve Therapeutics describes itself as a “clinical-stage genetic medicines company pioneering a new approach to the care of cardiovascular disease, transforming treatment from chronic management to single-course gene editing medicines.”.
The complaint alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that:
(1) defendants did not fully disclose the circumstances under which the Heart-1 Phase 1b clinical trial (the “Heart-1 Trial”) of VERVE-101 would be halted (VERVE-101 is an investigational gene editing medicine designed to be a single course treatment that permanently turns off the PCSK9 gene in the liver to reduce disease-driving low-density lipoprotein cholesterol (LDL-C));
(2) defendants overstated the potential benefits of its proprietary lipid nanoparticle (LNP) delivery system; and
(3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On this news, the price of Verve Therapeutics stock fell by $4.47, or 34.9%, to close at $8.32 on April 2, 2024. As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s common shares.
If you purchased Verve Therapeutics securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
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