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Molecular Partners AG


A securities class action has been filed against Molecular Partners AG (MOLN) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) Molecular Partners American Depositary Shares (“ADSs”) pursuant and/or traceable to the Offering Documents issued in connection with the Company’s initial public offering conducted on or about June 16, 2021 (the “IPO”); and/or (b) Molecular Partners securities between June 16, 2021 through April 26, 2022.  This case has been filed in the USDC – S.D.N.Y.

On or around June 16, 2021, Molecular Partners conducted its U.S. initial public offering (“IPO”), offering 3 million American Depositary Shares (“ADS”) priced at $21.25 per ADS. Then, on April 26, 2022, Molecular Partners issued a press release “announc[ing] that Amgen, its collaboration partner for MP0310 (AMG 506), has informed the Company of their decision to return global rights of MP0310 to Molecular Partners following a strategic pipeline review” and that “Molecular Partners is presently conducting a phase 1 study of MP0310 and will look to present full phase 1 data at a scientific conference when available.” The press release further stated that “[u]nder the agreement with Amgen, following Phase 1 data, Amgen would have had the right to progress the program into later stage development, including into combination trials.” On this news, Molecular Partners’ ADS price fell sharply during intraday trading on April 27, 2022.

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Securities