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On June 27, 2016, Regulus announced that it had received verbal notice from the U.S. Food and Drug Administration ("FDA") that the agency had placed the Company's investigational new drug RG-101 for the treatment of chronic hepatitis C virus infection on clinical hold after a second serious adverse event of jaundice was reported. On this news, Regulus' stock fell $2.47, or 49.3%, to close at $2.54 on June 28, 2016.
On January 27, 2017, post-market, Regulus announced 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 advised investors that the Company expects the requested data to be available in the fourth quarter of 2017. On this news, the Company's stock has fallen as much as $1.06, or over 47%, to a low of $1.19 during intra-day trading on January 30, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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
Robert S. Willoughby
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-regulus-therapeutics-inc--rgls-300398765.html
SOURCE Pomerantz LLP