On April 16, 2015, KemPharm sold 5.09 million shares in its Initial Public Offering and raised $60 million in new capital. On May 5, 2016 KemPharm announced that one of its drugs, Apadaz, was to be approved by the U.S. Food and Drug Administration (the "FDA) for its proposed indication of acute pain management that requires an opiod, however the FDA also voted against inclusion of abuse-deterrent labeling for the product. Following this news, KemPharm's stock dropped 56% to close at $6.91 per share on May 6. 2016. From the time of the IPO, KemPharm's stock has dropped from a high of $23.63 per share in September of 2015 to close at just $3.50 per share on October 25, 2016.
If you are aware of any facts relating to this investigation, or purchased shares of KemPharm, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/kmph. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-bronstein-gewirtz--grossman-llc-announces-investigation-of-kempharm-inc-kmph-300355267.html
SOURCE Bronstein, Gewirtz & Grossman, LLC