NEW YORK, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of those who acquired Invivyd, Inc. f/k/a Adagio Therapeutics, Inc. (“Invivyd” or the “Company”) (NASDAQ: IVVD) securities during the period from November 29, 2021 through December 14, 2021 (the “Class Period”). Investors have until April 3, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Invivyd operates as a biotechnology company focused on developing multiple next-generation candidate antibodies for the prevention and treatment of COVID-19. It developed ADG20, an investigational monoclonal antibody treatment for COVID-19.

On December 14, 2021, Invivyd issued a press release reporting in vitro results of ADG20 against the Omicron variant (the “December 14 Press Release”). In the December 14 Press Release, only a few weeks after assuring investors of ADG20’s efficacy against Omicron, Invivyd announced that “[t]he in vitro data generated through both authentic and pseudovirus testing of the Omicron variant show a greater than 300-fold reduction in neutralizing activity of ADG20 against Omicron.” In other words, Invivyd revealed that the data showed that ADG20 was 300 times less effective at neutralizing Omicron than it was against the other variants. On this news, the price of Invivyd shares declined by $27 per share, or approximately 78.81%, from $34.26 per share to close at $7.26 on December 15, 2021.

If you purchased or otherwise acquired Invivyd securities, have information, or would like to learn more about this lawsuit, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com

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