SAN DIEGO, March 16, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Carbylan Therapeutics, Inc. (NASDAQ: CBYL) and certain of its officers. Carbylan is a specialty pharmaceutical company, focusing on the development and commercialization of novel and proprietary combination therapies.
On April 9, 2015, Carbylan's stock traded as high as $6.58, the same day the Company sold 13 million shares of stock in its initial public stock offering (the "IPO"), raising $65.0 million in new capital. However, since the IPO, Carbylan's stock has imploded, falling from its high of $9.22 on June 8, 2015 to close at $0.71 on March 15, 2016.
Recently, on February 1, 2016 Carbylan stock plunged nearly 50 percent after the company disclosed top-line results from a Phase 3 trial, COR1.1. Specifically, Johnson & Weaver's investigation seeks to determine whether certain statements regarding the Company's business metrics and financial prospects were not as strong as represented in the Registration Statement.
If you are a Carbylan shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP Jim Baker, 619-814-4471 email@example.com
SOURCE Johnson & Weaver, LLP