Latest news with #REPL
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Faruqi & Faruqi Reminds Replimune Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 22, 2025
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Replimune To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Replimune between November 22, 2024 and July 21, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Aug. 9, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Replimune Group, Inc. ('Replimune' or the 'Company') (NASDAQ: REPL) and reminds investors of the September 22, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Defendants recklessly overstated the IGNYTE trial's prospects, given material issues that defendants knew or should have known of, which resulted in the FDA deeming the IGNYTE trial inadequate and not well-controlled; and (2) as a result, defendants' statements about Replimune's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. On July 22, 2025, before the market opened, Replimune issued a press release entitled 'Replimune Receives Complete Response Letter from FDA for RP1 Biologics License Application for the Treatment of Advanced Melanoma.' The press release stated that Replimune had received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding the Biologics License Application (BLA) for RP1 (vusolimogene oderparepvec) in combination with nivolumab for the treatment of advanced melanoma.' The press release stated that the CRL 'indicates that the FDA is unable to approve the application in its present form. The FDA has indicated that the IGNYTE trial is not considered to be an adequate and well-controlled clinical investigation that provides substantial evidence of effectiveness.' On this news, Replimune common stock plummeted over 73% during intraday trading on July 22, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Replimune's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Replimune class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
The Hindu
6 days ago
- Politics
- The Hindu
Karnataka High Court stays proceedings against Minister K.J. George and two bureaucrats on complaint of illegalities in smart meter tender process
The High Court of Karnataka on Wednesday stayed the proceedings before a special court against Energy Minister K.J. George and two officials on a private complaint lodged by BJP leaders alleging a series of illegalities and corruption in awarding tender in favour of a private company to supply smart electricity meters at an exorbitant price. Justice M.I. Arun passed the interim order on separate petitions filed by Mr. George, Mahantesh Bilagi, then managing director (MD) of Bangalore Electricity Supply Company (Bescom) and presently MD of Karnataka Minerals Corporation Ltd., and Ramesh H.J., director-technical of Bescom. The petitioners have questioned the legality of an order, passed on July 23 by the Special Court of Sessions for criminal cases against former and present MPs and MLAs, directing the Superintendent of Police (SP), Lokayukta police, to submit a report on the complaint lodged by the BJP legislators, C.N. Ashwath Narayan, S.R. Vishwanath, and Dheeraj Muniraj. The BJP leaders in April knocked the doors of the special court as the Lokayukta police had not taken any action on the complaint lodged by them seeking investigation into the illegalities in the smart meter tender process. BJP's allegations It has been alleged in the complaint of the BJP legislators that M/s. Rajashree Electricals Pvt. Ltd., (REPL), Davangere, is a 'benami and shell company being operated by agents or henchmen of Mr. George' and several vital norms for awarding the tender were ignored to award the contract to supply smart meters at an exorbitant price when it could have been supplied at a lower price under a Central government-sponsored scheme. Also, it has been alleged in the complaint that Gaurav Gupta, Additional Chief Secretary, Energy Department, Mr. Belagi, in his capacity as MD of Bescom, and Mr. Ramesh had conspired with Mr. George in awarding the tender illegally and causing a huge loss to the State exchequer. The complaint has also alleged that REPL had tied up with another private company, BTCIL, which is a blacklisted company at the time of the award of tender. No material: George While denying all the allegations, Mr. George and the two officials have contended that there was no material against them to constitute an offence that require an investigation. The petitioners have also questioned the report sought by the special court from the SP, Lokayukta, while contending that this order was violative of Section 175 (4) of the Bharatiya Nagarik Suraksha Sanhita (BNSS). A report under Section 175 (4) of the BNSS can be secured only from the 'administrative superior' of the public servant, against whom complaint has been lodged, and not from the police officer or investigative authority as has been done by the special court in this case, it has been claimed in the petitions. Also, it has been contended in the petition that the special court could not have sought any report in the absence of prior sanction for investigation granted by the competent authority under Section 17-A of the Prevention of Corruption Act.
Business Insider
23-07-2025
- Business
- Business Insider
Why Is Replimune Stock (REPL) Down 75% Today?
Replimune (REPL) stock plummeted on Tuesday after the biotechnology company received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA). The FDA didn't approve the Biologics License Application (BLA) for RP1 in combination with nivolumab as a treatment for advanced melanoma. Advanced melanoma occurs when the cancer spreads beyond the skin, such as to the lymph nodes, distant organs, or bones. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Replimune CEO Sushil Patel said, 'We are surprised by this FDA decision and disappointed for advanced melanoma patients who have limited treatment options as highlighted by the granting of breakthrough status at the time we provided the IGNYTE primary data.' Replimune intends to request a Type A meeting with the FDA to seek a timely and accelerated approval of RP1. It expects this meeting to be granted within the next 30 days. Replimune Stock Movement Today Replimune stock was down 76.88% in pre-market trading on Tuesday, following a 1.94% rally yesterday. The company's shares have rallied 1.78% year-to-date and 22.76% over the past 12 months. Today's drop came with heavy trading, as some 10 million shares changed hands, compared to a three-month daily average trading volume of 1.63 million shares. Is Replimune Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for Replimune is Strong Buy, based on nine Buy ratings over the past three months. With that comes an average REPL stock price target of $22.43, representing a potential 81.99% upside for the shares.
Time of India
27-06-2025
- Business
- Time of India
Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO
Gujarat-based Rayzon Solar plans to use the bulk of the proceeds from its planned Rs 1,500 cr-IPO to set up a 3.5 GW solar cell manufacturing facility and expand its green energy manufacturing footprint. With a current module capacity of 6 GW and robust financial growth, Rayzon is positioning itself as a key player in India's solar push. Tired of too many ads? Remove Ads IPO details Use of proceeds Capacity growth and manufacturing expansion Tired of too many ads? Remove Ads Product portfolio & clients Financial Performance IPO Book Runners and Listing The company has an installed module manufacturing capacity of 6.00 GW as of March 31, 2025. Rayzon Solar is targeting the next phase of its growth by expanding into solar cell manufacturing The IPO will have a face value of Rs 2 per share and includes a reservation for eligible employees at a discounted rate. The company may also explore a pre-IPO placement of up to Rs 300 crore. If completed, this will reduce the fresh issue size the planned Rs 1,500 crore IPO, Rs 1,265 crore will be invested in its wholly owned subsidiary, Rayzon Energy Private Limited (REPL), to partially fund the establishment of a 3.5 GW solar cell manufacturing facility using TOPCon (Tunnel Oxide Passivated Contact) technology in Kathvada, Surat. The remainder will be allocated to general corporate began operations in 2017 and scaled its module capacity from 40 MW in 2018 to 6.00 GW by 2025. It currently operates two manufacturing plants in Karanj and Sava, each with 3.00 GW capacity. An additional 2.00 GW capacity at Sava is expected to become operational by October REPL, the company is building a 3.5 GW solar cell unit (operational by FY 2027) and a 19,800 MT aluminium extrusion and anodising unit via another subsidiary, Rayzon Industries, expected to go live in July company is a certified manufacturer under the Ministry of New and Renewable Energy's Approved List of Module Manufacturers ('ALMM'), with an enlisted capacity of 3.00 GW, constituting 3.8% of the total ALMM enlisted capacity as of April 21, 2025. (Source: CRISIL Report).Also read: Last chance: HDB Financial's Rs 12,500 crore IPO closes today. Should you chase 8% listing gains? The company offers a wide range of modules, including: Bifacial modules with N-type TOPCon and P-type Mono PERC cells, Monofacial and full black variants with PERC and TOPCon technology,Rayzon serves over 500 clients, including major names like Panasonic Life Solutions, Mahindra Solarize, ACME Cleantech, V-Guard Industries , and Hero Rooftop Energy. It also supplies modules under key government schemes like PM Surya Ghar Muft Bijlee Yojana and of May 31, 2025, Rayzon had an order book of 3.60 GW for PV modules and a distribution network of 68 channel partners across 59 cities in 20 states and union Solar has delivered impreesice growth over the past financial years, with revenue from operations rising from Rs 261.65 crore in FY22 to Rs 1,272.85 crore in FY24, reflecting a CAGR of 120.56%, while EBITDA surged from Rs 13.47 crore to Rs 101.41 crore (CAGR: 174.35%) and profit after tax increased from Rs 3.91 crore to Rs 60.94 crore. For the nine months ended December 31, 2024, the company reported revenue of Rs 1,957 crore and PAT of Rs 239.03 Capital Markets, Ambit Private Limited, and IIFL Capital Services are the book-running lead managers, while KFin Technologies is the registrar. The equity shares will be listed on the BSE and the NSE.
Economic Times
27-06-2025
- Business
- Economic Times
Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO
IPO details Use of proceeds Capacity growth and manufacturing expansion Live Events Product portfolio & clients Financial Performance IPO Book Runners and Listing (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The company has an installed module manufacturing capacity of 6.00 GW as of March 31, 2025. Rayzon Solar is targeting the next phase of its growth by expanding into solar cell manufacturing The IPO will have a face value of Rs 2 per share and includes a reservation for eligible employees at a discounted rate. The company may also explore a pre-IPO placement of up to Rs 300 crore. If completed, this will reduce the fresh issue size the planned Rs 1,500 crore IPO, Rs 1,265 crore will be invested in its wholly owned subsidiary, Rayzon Energy Private Limited (REPL), to partially fund the establishment of a 3.5 GW solar cell manufacturing facility using TOPCon (Tunnel Oxide Passivated Contact) technology in Kathvada, Surat. The remainder will be allocated to general corporate began operations in 2017 and scaled its module capacity from 40 MW in 2018 to 6.00 GW by 2025. It currently operates two manufacturing plants in Karanj and Sava, each with 3.00 GW capacity. An additional 2.00 GW capacity at Sava is expected to become operational by October REPL, the company is building a 3.5 GW solar cell unit (operational by FY 2027) and a 19,800 MT aluminium extrusion and anodising unit via another subsidiary, Rayzon Industries, expected to go live in July company is a certified manufacturer under the Ministry of New and Renewable Energy's Approved List of Module Manufacturers ('ALMM'), with an enlisted capacity of 3.00 GW, constituting 3.8% of the total ALMM enlisted capacity as of April 21, 2025. (Source: CRISIL Report).Also read: Last chance: HDB Financial's Rs 12,500 crore IPO closes today. Should you chase 8% listing gains? The company offers a wide range of modules, including: Bifacial modules with N-type TOPCon and P-type Mono PERC cells, Monofacial and full black variants with PERC and TOPCon technology,Rayzon serves over 500 clients, including major names like Panasonic Life Solutions, Mahindra Solarize, ACME Cleantech, V-Guard Industries , and Hero Rooftop Energy. It also supplies modules under key government schemes like PM Surya Ghar Muft Bijlee Yojana and of May 31, 2025, Rayzon had an order book of 3.60 GW for PV modules and a distribution network of 68 channel partners across 59 cities in 20 states and union Solar has delivered impreesice growth over the past financial years, with revenue from operations rising from Rs 261.65 crore in FY22 to Rs 1,272.85 crore in FY24, reflecting a CAGR of 120.56%, while EBITDA surged from Rs 13.47 crore to Rs 101.41 crore (CAGR: 174.35%) and profit after tax increased from Rs 3.91 crore to Rs 60.94 crore. For the nine months ended December 31, 2024, the company reported revenue of Rs 1,957 crore and PAT of Rs 239.03 Capital Markets, Ambit Private Limited, and IIFL Capital Services are the book-running lead managers, while KFin Technologies is the registrar. The equity shares will be listed on the BSE and the NSE.
