New York, New York--(Newsfile Corp. - January 7, 2023) - Pomerantz LLP is investigating claims on behalf of investors of Theratechnologies Inc.("Theratechnologies" or the "Company") (NASDAQ: THTX). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Theratechnologies and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 1, 2022, Theratechnologies issued a press release "announc[ing] that it has decided to pause the enrollment of patients in its Phase 1 clinical trial of TH1902, the Company's lead investigational peptide drug conjugate (PDC) for the treatment of sortilin-expressing cancers." Theratechnologies explained that it "voluntarily made the decision to pause enrollment and revisit the study design after consulting with its investigators. Efficacy results observed thus far were not convincing enough to pursue enrolling patients and did not outweigh the adverse events seen in some patients. As previously reported, these adverse events consist mainly of neuropathy and eye toxicity."
On this news, Theratechnologies' stock price fell $0.76 per share, or 36.02%, to close at $1.35 per share on December 2, 2022.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, 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.
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