NEW YORK, Dec. 10, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of scPharmaceuticals Inc. ("scPharmaceuticals" or the "Company") (NASDAQ: SCPH). uch investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether scPharmaceuticals and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 7, 2020, scPharmaceuticals issued a press release announcing receipt of a Complete Response Letter ("CRL") from the U.S. Food and Drug Administration ("FDA") on December 3, 2020 regarding the Company's New Drug Application ("NDA") for the Company's FUROSCIX product. The Company's press release stated that "[i]n the CRL, the FDA cited their need to conduct pre-approval inspections at two of the company's third-party manufacturing facilities that could not be conducted due to travel restrictions. In addition, the FDA raised questions related to testing, labeling, and features of the combination product unrelated to the drug constituent. In addition, the FDA indicated that there were deficiencies at the third-party facility where the Company's off-the-shelf alcohol swabs are manufactured."
On this news, scPharmaceuticals' stock price fell $3.11 per share, or 35.58%, to close at $5.63 per share on December 7, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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
888-476-6529 ext. 7980
SOURCE Pomerantz LLP