NEW YORK, Feb. 23, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of PTC Therapeutics, Inc. ("PTC" or the "Company") (NASDAQ: PTCT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether PTC and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 23, 2016, pre-market, PTC announced receipt of a Refuse to File letter from the United States Food and Drug Administration ("FDA") regarding PTC's New Drug Application for Translarna™ (ataluren), an oral, first-in-class, protein restoration therapy for the treatment of nonsense mutation Duchenne muscular dystrophy. The FDA states in the Refuse to File letter that the application was not sufficiently complete to permit a substantive review.
On this news, PTC stock has fallen as much as $12.01, or 42.5%, to $16.25 per share pre-market on February 23, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, 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 70 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
SOURCE Pomerantz LLP