Press release
Investigation announced for Long-Term Investors in Instil Bio, Inc. (NASDAQ: TIL) over potential Wrongdoing
An investigation on behalf of investors in Instil Bio, Inc. (NASDAQ: TIL) shares over potential wrongdoing at Instil Bio, Inc.
Investors who purchased shares of Instil Bio, Inc. (NASDAQ: TIL) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Instil Bio, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Dallas, TX based Instil Bio, Inc., a clinical-stage biopharmaceutical company, develops therapies for the treatment of patients with cancer. On October 31, 2022, before market hours, Instil Bio, Inc.issued a press release entitled "Instil Bio Announces Voluntary Pause of Enrollment in Ongoing Clinical Trials Related to Manufacturing" which announced the pause and that the pause was due to "a recent decrease in the rate of successful manufacturing of ITIL-168, resulting in the inability to dose some patients whose individual product of ITIL-168 was not successfully manufactured." Further, the Company announced that "[a]lthough no manufacturing failures have been observed to date in the ongoing Phase 1 trial of ITIL-306, the Company has also voluntarily paused enrollment in this trial as part of its overall manufacturing analysis." The Company also announced that it "intends to provide an update on the manufacturing analysis by early Q1 2023."
Shares of Instil Bio, Inc. (NASDAQ: TIL) declined from $5.26 per share on October 28, 2022, to $2.46 per share on November 1, 2022.
Those who purchased shares of Instil Bio, Inc. (NASDAQ: TIL) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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