Bellicum Pharmaceuticals Inc (NASDAQ: BLCM) Investor Securities Class Action Lawsuit 02/06/2018

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Company Name(s): 
Bellicum Pharmaceuticals
Case Name: 
Bellicum Pharmaceuticals Shareholder Class Action Lawsuit 02/06/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: BLCM
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/06/2018
Class Period Begin: 
05/08/2017
Class Period End: 
01/30/2018
Court of Filing: 
U.S. District Court for the Southern District of Texas
Deadline To File for Lead: 
04/09/2018
Summary: 

April 9, 2018 - Lead plaintiff motions were filed.

February 6, 2018 - An investor in shares of Bellicum Pharmaceuticals Inc (NASDAQ: BLCM) filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by Bellicum Pharmaceuticals Inc in connection with certain allegedly false and misleading statements made between May 8, 2017, and January 30, 2018.

Houston, TX based Bellicum Pharmaceuticals Inc is a clinical-stage biopharmaceutical company that is focused on discovering and developing cellular immunotherapies for various forms of cancer, including hematological cancers and solid tumors, as well as orphan inherited blood disorders.

On January 30, 2018, post-market, Bellicum Pharmaceuticals Inc announced "that the Company has received notice from the U.S. Food and Drug Administration (FDA) that U.S. studies of BPX-501", Bellicum Pharmaceuticals Inc's lead product candidate, "have been placed on a clinical hold following three cases of encephalopathy deemed as possibly related to BPX-501." Shares of Bellicum Pharmaceuticals Inc (NASDAQ: BLCM) declined to as low as $5.42 per share on February 6, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Bellicum Pharmaceuticals Inc (NASDAQ: BLCM) common shares between May 8, 2017, and January 30, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 8, 2017, and January 30, 2018, the defendants made false and/or misleading statements and/or failed to disclose that a substantial undisclosed risk of encephalopathy was associated with the Company’s lead product candidate BPX-501, and that as a result of the foregoing, Bellicum’s public statements were materially false and misleading at all relevant times.