NEW YORK, Nov. 3, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Biora Therapeutics, Inc. (“Biora” or the “Company”) (NASDAQ: BIOR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Biora and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 23, 2023, Biora announced that the Company would need additional time to submit its Investigational New Drug application (“IND”) for its drug/device combination BT-600 for the treatment of moderate to severe ulcerative colitis, in order to comply with a request from the United States Food & Drug Administration (“FDA”) for additional information. Specifically, Biora stated in a press release that “[n]ear the end of the review period, the FDA requested additional information on our IND for BT-600 and will need additional time to complete review of our submission. We plan to address the agency’s questions and submit our updated filing, potentially as early as this week” and “[w]e continue to have a constructive exchange with the FDA, and while we cannot predict their response, we anticipate remaining on track with our previously communicated execution timeline.”
On this news, Biora’s stock price fell $0.34 per share, or 13.93%, to close at $2.10 per share on October 24, 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP