Enochian Biosciences Inc.
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The investigation focuses on whether the Company misled investors concerning Enochian’s co-founder including the fact that the co-founder, Dr. Serhat Gumrukçu, has a sordid criminal history. On May 25, 2022, Enochian published a press release admitting that Dr. Gumrukçu arrested, “and charged with serious crimes.”
Then, on June 1, 2022, Hindenburg Research published a report outlining Dr. Gumrukçu’s criminal history and alleges that the company and its pipeline are completely dependent on Dr. Gumrukçu. “Every product Enochian is investigating appears to have been licensed to it by Gumrukçu-controlled or affiliated entities or are otherwise based on his research.” On this news shares of Enochian fell sharply in value.