Verve Therapeutics Inc. is facing legal action from a shareholder who alleges the biotech firm misled investors concerning the clinical trial of its cholesterol medication. The lawsuit, filed in the US District Court for the District of Massachusetts, accuses the Boston-based company of overstating the capabilities of its drug delivery system.
The plaintiff contends that Verve highlighted positive interim data without properly cautioning that the clinical trial could be halted due to adverse events. In April, Verve paused enrollment in the clinical trial after a participant experienced an adverse reaction, including a decrease in blood platelet count. The lawsuit claims that Verve's statements regarding its business, operations, and prospects were misleading.
