#United States #New York #Class Action #Levi & Korsinsky #Sana Biotechnology

Class Action Lawsuit Filed Against Sana Biotechnology, Inc.

On April 11, 2025, Levi & Korsinsky, LLP announced the initiation of a class action lawsuit against Sana Biotechnology, Inc. (NASDAQ: SANA) on behalf of investors who claim to have incurred losses due to purported securities fraud experienced between March 17, 2023, and November 4, 2024. The firm is representing affected shareholders in this potential recovery effort, and interested parties can find more information through their dedicated link.

Background of the Lawsuit

This class action seeks to hold Sana Biotechnology accountable for the allegations that it misled investors regarding the company's financial stability and the prospects of its product candidates. Specifically, the complaint asserts that Sana failed to accurately disclose the following key points:

1. The company was potentially at risk of lacking the necessary funds to support its ongoing operations and advance its product development efforts.
2. Key product candidates, namely SC291 in oncology, SC379, and SG299, were predicted to be less viable than previously communicated to investors.
3. To conserve financial resources and focus on what they deemed more promising developments, Sana might reduce funding for the aforementioned product candidates, as well as reduce its workforce significantly.
4. Consequently, statements made by the company regarding its financial strength were materially misleading.

These assertions constitute serious claims regarding Sana's operational capability and transparency, which could have led investors to make misinformed decisions based on the company's public representations.

What’s Next for Affected Investors?

For investors who have endured losses linked to their Sanas Biotechnology shares, the deadline for submitting a request to be appointed as lead plaintiff in this class action is set for May 20, 2025. It is essential to note that involvement as a lead plaintiff is not a prerequisite for participation in any potential recovery for damages.

Levi & Korsinsky highlights that participation in the class action will not cost affected individuals anything out of pocket. Those who qualify can seek restitution without bearing any legal fees or costs, making this an accessible option for those looking to recover losses.

The Expertise of Levi & Korsinsky

Levi & Korsinsky has garnered a solid reputation over the past two decades for successfully securing substantial compensation for investors and maneuvering through complex securities litigation. With a dedicated team of over 70 professionals, the firm emphasizes its commitment to representing shareholders in high-stakes cases effectively.

Furthermore, for seven consecutive years, Levi & Korsinsky has earned recognition in ISS Securities Class Action Services' Top 50 Report as one of the leading securities litigation firms across the United States, showcasing its expertise and reliability in this field.

Contact Information

If you have been affected by the circumstances surrounding Sana Biotechnology, you are encouraged to reach out to Levi & Korsinsky for assistance. Investors can contact Joseph E. Levi, Esq., or Ed Korsinsky, Esq., at the firm’s offices:

Address: 33 Whitehall Street, 17th Floor, New York, NY 10004
Email: [email protected]
Phone: (212) 363-7500

This class action represents an opportunity for investors to seek justice and potential recovery for their losses incurred during the outlined period. The unfolding developments in this case will be closely watched by both investors and market analysts alike, underscoring the crucial role of legal oversight in the realm of biotechnology and investor relations.