NEW YORK, NY / ACCESSWIRE / May 25, 2020 / Pomerantz LLP is investigating claims on behalf of investors ofPfenex Inc.("Pfenex" or the "Company") (NYSE:PFNX) Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Pfenex and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 15, 2020, Pfenex issued a press release announcing that the U.S. Food and Drug Administration ("FDA") had "informed Alvogen Malta Operations Ltd., the Company's commercialization partner for PF708, via a General Advice letter that additional comparative use human factors (CUHF) data, specifically from Forteo® (teriparatide injection) experienced users, would be required before PF708 Therapeutic Equivalence (TE) could be determined." Specifically, Pfenex's Chief Executive Officer stated that "[w]hile the previously submitted CUHF study included Forteo-experienced patients and caregivers, the FDA requested that a larger number of experienced subjects be studied[.]"
On this news, Pfenex's stock price fell $2.49 per share, or 27.85%, to close at $6.45 per share on April 15, 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.
SOURCE: Pomerantz LLP
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