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Case Status:    ONGOING    
On or around 07/29/2022 (Date of last review)

Filing Date: July 26, 2022

According to the Complaint, Enochian Biosciences Inc. is a pre-clinical stage biotechnology company that purportedly researches and develops pharmaceutical and biological products for the human treatment of HIV, HBV, influenza and coronavirus infections, and cancer.

Enochian has multiple consulting and licensing agreements with G-Tech Bio, LLC, a California limited liability company, and G Health Research Foundation, a not-for-profit entity organized under the laws of California doing business as Seraph Research Institute (“SRI”), both of which are controlled by one of Enochian's co-founders.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Enochian's co-founder was not a licensed doctor and had no verifiable degrees beyond high school; (ii) accordingly, the scientific and technological underpinnings of Enochian’s product pipeline, purportedly invented by the co-founder, were dubious at best; (iii) accordingly, the Defendants had significantly overstated the commercial prospects for the Company’s product pipeline; (iv) Enochian’s senior leadership knew the co-founder had a criminal history that included fraud; (v) accordingly, Enochian’s reliance on the co-founder, and its consulting and licensing agreements with G-Tech and SRI, subjected the Company to a heightened risk of reputational and financial harm, as well as threatened the integrity of the Company’s scientific findings; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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