NEW YORK, Nov. 06, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Accelerate Diagnostics, Inc. (NASDAQ: AXDX), and Instil Bio, Inc. (NASDAQ: TIL). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX)
After the market closed on October 21, 2022, Accelerate Diagnostics disclosed receiving a request from the U.S. Food and Drug Administration for the company to immediately discontinue marketing and distribution of its Accelerate Arc system and related BC Kit for a particular diagnostic use.
Previously, Accelerate Diagnostics had been marketing the Accelerate Arc products as Class I devices, exempting them from 510(k) clearance requirements. Recently, the FDA informed the company that marketing the products in the U.S. requires 510(k) clearance.
Shares of Accelerate Diagnostics stock dropped approximately 9% in premarket trading and were down more than 40% in intraday trading on October 24, 2022.
For more information on the Accelerate Diagnostics investigation go to: https://bespc.com/cases/AXDX
Instil Bio, Inc. (NASDAQ: TIL)
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Instil Bio disclosed on October 31, 2022, that it had informed the FDA that it had voluntarily paused enrollment in a clinical trial due to problems in manufacturing one of its therapies. The manufacturing trouble resulted in an inability to properly dose patients in a clinical trial of ITIL-168 for advanced melanoma.
On this news, shares of Instil Bio fell by more than 33% in intraday trading.
For more information on the Instil investigation go to: https://bespc.com/cases/TIL
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.