20 Sep, 2021, 00:48 ET
NEW YORK, Sept. 20, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of BioMarin Pharmaceutical Inc. ("BioMarin" or the "Company") (NASDAQ: BMRN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether BioMarin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 5, 2021, BioMarin issued a press release announcing "that the U.S Food and Drug Administration (FDA) placed a clinical hold on the BMN 307 Phearless Phase 1/2 study", which "is evaluating BMN 307, an investigational AAV5-phenylalanine hydroxylase (PAH) gene therapy, in adults with phenylketonuria (PKU)." BioMarin advised investors that "[t]he FDA's clinical hold was based on interim safety findings from a pre-clinical, non-GLP pharmacology study."
On this news, BioMarin's stock price fell $7.14 per share, or 8.4%, to close at $77.81 per share on September 7, 2021, the next trading day.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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.pomlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP
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