Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
01/22/2021
Initial Lawsuit
01/22/2021
Lawsuit Progression
04/19/2021
Dismissal
07/02/2021
Plaintiff brings this securities class action on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired Voyager securities between June 1, 2017 and November 9, 2020, both dates inclusive.
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) the Company’s VY-HTT01 IND submission to the FDA lacked key information regarding certain chemistry, manufacturing and controls matters, including, inter alia, drug-device compatibility and drug substance and product characterization;
(ii) the Company’s IND submission for VY-HTT01 was therefore deficient;
(iii) the Company had thus materially overstated the likelihood of FDA approval for VY-HTT01 based on the IND submission; and
(iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.