On June 27, 2016, Regulus released that it had received notice from the U.S. Food and Drug Administration ("FDA") that its new drug for the treatment of chronic hepatitis C virus infection which was under FDA review, is now being put on clinical hold after a second serious case of jaundice was reported. Following this news, Regulus dropped $2.47 per share, or over 49.3%, to close at $2.54 on June 28, 2016.
On January 27, 2017, post-market, Regulus revealed that the FDA would not reconsider the clinical hold on RG-101 until the agency had received the final safety and efficacy data from ongoing clinical and pre-clinical studies. Regulus notified investors that it expects the requested data to be available in the fourth quarter of 2017. Following this news, Regulus stock dropped as much as $1.06, or over 47%, to a low of $1.19 during intra-day trading on January 30, 2017.
If you are aware of any facts relating to this investigation, or purchased Regulus shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/rgls. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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
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SOURCE Bronstein, Gewirtz & Grossman, LLC