NEW YORK, Dec. 18, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Entrada Therapeutics, Inc. (“Entrada” or the “Company”) (NASDAQ: TRDA). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Entrada and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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After the market closed on December 19, 2022, Entrada issued a press release announcing that the U.S. Food and Drug Administration (“FDA”) placed a clinical hold on the Company’s Investigational New Drug Application for ENTR-601-44 for the potential treatment of Duchenne muscular dystrophy. The FDA indicated that they would provide an official Clinical Hold letter to Entrada within 30 days. On this news, Entrada’s stock price fell $3.93 per share, or 19.76%, to close at $15.96 per share on December 20, 2022. Then, on November 22, 2023, Entrada announced that after reevaluating additional information on ENTR-601-44, the FDA refused to lift the previously announced clinical hold on its Phase 1 trial.
On this news, Entrada’s stock price fell $5.31 per share, or 31.85%, to close at $11.36 per share on November 22, 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:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
