An investigation on behalf of investors in Instil Bio, Inc. (NASDAQ:TIL) shares over potential wrongdoing at Instil Bio, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 02/10/2023 -- Certain directors of Instil Bio, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Instil Bio, Inc. (NASDAQ: TIL) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org 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."
Those who purchased shares of Instil Bio, Inc. (NASDAQ: TIL) have certain options and should contact the Shareholders Foundation.
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