NEWTOWN,
Pa., July 12, 2024 /PRNewswire/ -- Edelson
Lechtzin LLP, a leading class action law firm, reminds investors
about the impending deadline to seek appointment as lead plaintiff
in the securities fraud class action
lawsuit against Bolt Biotherapeutics, Inc. (NASDAQ: BOLT). If you
purchased Bolt Biotherapeutics common stock between February 5, 2021, and May
14, 2024, inclusive (the "Class Period") and lost more than
$10,000 on your investment, you
should consider seeking a leadership position in this case.
To be considered for a lead plaintiff role, a Bolt investor must
file a motion in the U.S. District Court for the Northern District
of California, no later than
September 3, 2024. Please
contact Edelson Lechtzin LLP to discuss your investment losses, at
844-696-7492 or by e-mail at
elechtzin@edelson-law.com. You can also submit your trading
information online HERE.
Background on Bolt Biotherapeutics, Inc.
Headquartered in Redwood City,
California, Bolt is a clinical-stage biopharmaceutical
company,
focused on developing immunotherapies for cancer treatment,
primarily through its "Boltbody" pipeline. The Boltbody pipeline
includes BDC-1001, an immune-stimulating antibody conjugate
("ISAC") targeting the tumor antigen HER2, and programs targeting
the cancer antigen Claudin 18.2.
The Securities Fraud
Claims
Throughout the Class Period, the Class Action Complaint
alleges that Defendants made false
and/or misleading statements about the Company's business,
operations, and prospects. Specifically, Defendants failed to
disclose that: (i) BDC-1001 was less effective than the Company had
represented to investors and was unlikely to meet its pre-defined
success criteria; (ii) accordingly, Defendants overstated the
clinical and/or commercial prospects of Bolt's product pipeline,
which the Company relied upon to sustain its business; and (iii)
the foregoing subjected the Company to a heightened risk of
disruptive leadership transitions and substantial workforce
reduction.
On May 14, 2024, Bolt announced it
would cease development of BDC-1001, focus on BDC-3042 and
BDC-4182, move its CEO and CMO to advisory roles, and reduce its
workforce by 50%. Analysts immediately downgraded BOLT stock,
citing concerns about the commercial prospects of BDC-3042 and
BDC-4182, and the departure of the Company's CEO and CMO. On this
news, Bolt's stock price fell $0.49
per share, or 37.12%, to close at $0.83 on May 15,
2024.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
Web: www.edelson-law.com
Edelson Lechtzin LLP is a leading class action law firm with
offices in Pennsylvania and
California. In addition to cases
involving securities and investment fraud, our lawyers focus on class and collective
litigation in cases alleging violations of the federal antitrust
laws, employee benefit plans under ERISA, wage theft and unpaid
overtime, consumer fraud, and
dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in
some jurisdictions. No class has been certified in this case, so
you are not represented by counsel unless you retain one. You may
select counsel of your choice. You may also remain an absent class
member and do nothing at this point. Your ability to share in any
potential future recovery is not dependent upon serving as lead
plaintiff.
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SOURCE Edelson Lechtzin LLP