NEW YORK, Nov. 3, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Sarepta Therapeutics, Inc. (“Sarepta” or the “Company”) (NASDAQ: SRPT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Sarepta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On March 16, 2023, Sarepta issued a press release announcing that “at its late cycle meeting for the SRP-9001 (delandistrogene moxeparvovec) biologics license application (BLA), the U.S. Food and Drug Administration’s Office of Therapeutics (OTP) has determined that an advisory committee meeting will be held for SRP-9001 in advance of the May 29, 2023 regulatory action date.” Sarepta’s Chief Executive Officer stated in the press release that “[w]hile we are disappointed that we must communicate a change in decision after our prior statement on the topic, we are not disappointed with the decision to hold an advisory committee. We had been preparing for an advisory committee meeting from the filing of the BLA in the fall of 2022.”
On this news, Sarepta’s stock price fell $26.98 per share, or 18.03%, to close at $122.69 per share on March 17, 2023.
Then, on October 31, 2023, Sarepta issued a press release announcing that the Company’s Phase 3 EMBARK (Study SRP-9001-301) confirmatory trial for Elevidys, an FDA-approved therapy for Duchenne muscular dystrophy (DMD), failed to meet the main goal.
On this news, Sarepta’s stock price fell $40.34 per share, or 37.47%, to close at $67.31 per share on October 31, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
