Talis Biomedical Corporation develops diagnostic tests to enable accurate, reliable, low cost, and rapid molecular testing for infectious diseases and other conditions at the point-of-care. The Talis One tests are being developed for respiratory infections, infections related to women’s health, and sexually transmitted infections.

A securities fraud class action complaint has survived a motion to dismiss and class has been certified consisting of persons and entities that purchased or otherwise acquired Talis common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 initial public offering (“IPO” or the “Offering”).

That class action complaint alleges that the Registration Statement was false and misleading and omitted to state material adverse facts. Specifically, the Complaint alleges that Talis, via its officers and directors, failed to disclose to investors: (1) that the comparator assay in the primary study lacked sufficient sensitivity to support Talis’s EUA application for Talis One COVID-19 test; (2) that, as a result, Talis was reasonably likely to experience delays in obtaining regulatory approval for the Talis One COVID-19 test; (3) that, as a result, the Company’s commercialization timeline would be significantly delayed; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Current Talis shareholders who have held Talis shares since on or traceable to its February 12, 2021 IPO can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to contact Josh Grabar at [email protected], or Mia Heller at [email protected]; or call 267-507-6085.