BELLUS Health Inc.

  • Active

Investigation
03/16/2021

Initial Lawsuit
03/16/2021

Lawsuit Progression
07/20/2021

Investigation

  • Continous Holding
    September 5, 2019 to July 5, 2020
  • Proposed Claim
    Securities Violation

Investigation regarding Bellus’ Phase 2 RELIEF trial of BLU-5937 failure to achieve statistical significance for the primary endpoint of reduction in placebo-adjusted cough frequency at any dose tested.

Main Event

BLU-5937 Results

07/06/2020

Company Statement

Bellus releases the results of its Phase 2 RELIEF trial of BLU-5937. The trial did not achieve statistical significance for the primary endpoint of reduction in placebo-adjusted cough frequency at any dose tested.

“A clinically meaningful and highly statistically significant placebo-adjusted reduction in cough frequency was achieved in a pre-specified sub-group of high cough count patients (all patients at or above the baseline median average of 32.4 coughs per hour).

[…] BLU-5937 was also observed to be well tolerated with no serious adverse events reported and no withdrawals due to treatment-related adverse events at any dose. Taste effects, including taste alteration and partial taste loss, were infrequent at all dose levels (6.5%, 9.8%, 10% and 8.6% at 25mg BID, 50mg BID, 100mg BID and 200mg BID, respectively, versus 4.9% on placebo) and mostly mild in nature. No patients reported complete taste loss. There were no clinically meaningful changes in vital signs, electrocardiogram or clinical laboratory values.”

See more on Factual Timeline

Initial Lawsuit

First Complaint - 03/16/2021

This is a federal securities class action on behalf of all persons and entities whopurchased or otherwise acquired BELLUS securities between September 5, 2019 and July 5, 2020, inclusive, and were damaged thereby.

  • Filing Date
    03/16/2021
  • Class Period
    09/05/2019 to 07/05/2020
  • Transgression
    Securities Violation
  • Filing Firms
    Roche Freedman LLP
  • Case Title
    Cachia v. BELLUS Health Inc.
  • Docket Number
    1:21-cv-02278
  • Court
    New York Southern District Court
  • Free File
    Complaint

Allegations

According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:

(i) deceived the investing public regarding BELLUS’s business, operations, drug products, drug product development, competition, andpresent and future business prospects;
(ii) facilitated the Company’s September 2019 public offering;
(iii) created artificial demand for the BELLUS common shares sold in the Offering;
(iv) enabled the Company to receive approximately $70 million in net proceeds from thesale of BELLUS common stock in the Offering;
(v) caused Plaintiff and the Class to purchaseBELLUS publicly traded common stock at artificially inflated prices.

Defendants

  • Company
    Bellus
  • President
    Bellini
  • Vice President
    Desjardins

Lawsuit progression

  • Docket Number
    1:21-cv-02278
  • Court
    New York Southern District Court

Lead Counsel

07/20/2021

The court issued an order appointing the lead plaintiff and lead counsel.

  • Lead Counsel
    Roche Freedman LLP
  • Lead Plaintiff
    Individual
  • Free File
    Order for lead

Amended Complaint

09/17/2021

Lead plaintiff brings this securities class action on behalf of a class consisting of all persons or entities who purchased or otherwise acquired: (a) BELLUS common stock pursuant or traceable to the registration statement and prospectus issued in connection with the company’s September 2019 initial public offering (IPO) of its common shares and/or; (b) BELLUS securities between September 5, 2019 and July 6, 2020, both dates inclusive.

  • Updated Class Period
    09/05/2019 to 07/06/2020
  • Free File
    Amended Complaint

    • Operative complaint

Motion to Dismiss

11/16/2021

A motion to dismiss was filed with the court.

[stockdio-historical-chart symbol=”BLU” stockExchange=”NYSENasdaq” width=”500″ height=”330″ motif=”blinds” palette=”humanity” includeVolume=false]

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