EQUITY UPDATE: Rosen Law Firm Expands Class Period in Aeterna Zentaris, Inc. Investor Class Action to Include Purchasers Betw...
07 January 2015 - 8:47AM
Business Wire
Rosen Law Firm has filed a complaint expanding the class action
to now include purchasers of Aeterna Zentaris, Inc. securities
(NASDAQ:AEZS) between April 2, 2012 and November 6, 2014. The Firm
also reminds investors of the important January 12, 2015 lead
plaintiff deadline.
To join the AEZS class action, go to the website at
http://rosenlegal.com/cases-429.html or call Phillip Kim, Esq. or
Jonathan Horne, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or jhorne@rosenlegal.com for information on the
class action. The suit is pending in U.S. District Court for the
District of New Jersey.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, the Company misstated information
about its New Drug Application (“NDA”) with the FDA. On October 18,
2012, the Company announced the Phase III clinical trial results of
its drug MACRILEN™ (“MACRILEN”), stating that the results “confirm
[MACRILEN’s] potential as possibly the first approved oral
diagnostic test for [adult growth hormone deficiency.” The Phase
III trials were conducted pursuant to a Special Protocol Assessment
that was agreed upon with the FDA. The Company then filed an NDA
for MACRILEN.
On November 6, 2014, the Company announced that the FDA would
not approve the Company’s MACRILEN NDA, following receipt of a
Complete Response Letter (“CRL”). The Company stated that the FDA’s
concerns were:
“[T]hat the planned analysis of the Company's pivotal trial did
not meet its stated primary efficacy objective as agreed to in
the Special Protocol Assessment agreement letter between the
Company and the FDA. The CRL further mentioned issues related
to the lack of complete and verifiable source data for determining
whether patients were accurately diagnosed with AGHD. The FDA
concluded that, "in light of the failed primary analysis and
data deficiencies noted, the clinical trial does not by itself
support the indication." To address the deficiencies
identified above, the CRL states that the Company will need to
demonstrate the efficacy of macimorelin as a diagnostic test for
growth hormone deficiency in a new, confirmatory clinical
study.” That day, the Company’s stock price fell from $1.29 to
$0.65, damaging investors.
If you wish to join the litigation go to
http://rosenlegal.com/cases-429.html or to discuss your rights or
interests regarding this class action, please contact, Phillip Kim,
Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail
at pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Laurence Rosen, Esq.Phillip Kim, Esq.Jonathan Horne, Esq.The
Rosen Law Firm, P.A.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comjhorne@rosenlegal.comwww.rosenlegal.com
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