Shareholder Alert: Robbins LLP Reminds Investors Sarepta Therapeutics, Inc. (SRPT) Sued for Misleading Shareholders
11 February 2020 - 6:09AM
Business Wire
Shareholder rights law firm Robbins LLP reminds investors that a
purchaser of Sarepta Therapeutics, Inc. (NASDAQ: SRPT) filed a
class action complaint for alleged violations of the Securities
Exchange Act of 1934 between September 6, 2017 and August 19, 2019.
Sarepta Therapeutics focuses on the discovery and development of
RNA-based therapeutics, gene therapy, and other genetic medicine
for the treatment of rare diseases. Sarepta's products pipeline
includes its drug golodirsen for the treatment of duchenne muscular
dystrophy ("DMD").
If you suffered a loss as a result of Sarepta's misconduct,
click here.
Sarepta Therapeutics, Inc. (SRPT) Accused of Misleading
Shareholders
According to the complaint, in September 2017, Sarepta announced
positive results from its first-in-human study for the safety,
tolerability, pharmacokinetics, and efficacy of its drug
golodirsen. Following these auspicious results, on February 14,
2019, Sarepta revealed that the FDA had accepted the company's New
Drug Application ("NDA") "seeking accelerated approval for
golodirsen and provided a regulatory action date of August 19,
2019," failing to mention any possible or known risks related to
golodirsen. Despite positive statements about the effects of
golodirsen throughout the relevant period, on August 19, 2019,
Sarepta revealed that a complete response letter from the FDA
expressed concerns with (1) golodirsen's risk of infection from its
intravenous infusion ports, and (2) its renal toxicity seen in
pre-clinical models. On this news, Sarepta' stock price fell
$18.24, or 15%, to close at $102.07.
Sarepta Therapeutics, Inc. (SRPT) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20200210005700/en/
Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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