SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Sarepta Therapeutics, Inc. - SRPT
February 04, 2021 at 20:11 PM EST
NEW YORK, Feb. 4, 2021 /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 firstname.lastname@example.org 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.
On January 7, 2021, Sarepta issued a press release announcing top-line results for Part 1 of the Company's Study SRP-9001-102 ("Study 102"), "an ongoing, randomized, double-blind, placebo-controlled clinical trial to evaluate the safety, efficacy and tolerability of a single dose of SRP-9001 (rAAVrh74.MHCK7.micro-dystrophin) in 41 patients with Duchenne muscular dystrophy. SRP-9001 is an investigational gene transfer therapy intended to deliver its micro-dystrophin-encoding gene to muscle tissue for the targeted production of the micro-dystrophin protein." While Sarepta touted the fact that Study 102 met its primary biological endpoint "[a]t 12 weeks post-treatment compared to baseline," the product candidate failed to coincide with statistically significant improvements in muscle function for all patients after one year.
On this news, Sarepta's stock price fell $86.66 per share, or 51.29%, to close at $82.29 per share on January 8, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com.
SOURCE Pomerantz LLP