NEW YORK, Nov. 18, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Neurogene Inc. ("Neurogene" or the "Company") (NASDAQ: NGNE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Neurogene and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 11, 2024, Neurogene issued a press release reporting "interim clinical data in the first four participants in the low-dose cohort of its ongoing Phase 1/2 open-label trial designed to evaluate NGN-401 gene therapy for the treatment of female pediatric patients with Rett syndrome." Although Neurogene characterized the data as "positive", one of two patients given a high dose reported an emerging treatment-related serious adverse event that the Company described as "consistent with known risks of [adeno-associated virus] gene therapy[.]"
On this news, Neurogene's stock price fell $31.53 per share, or 44.08%, to close at $40.00 per share on November 12, 2024.
Then, on November 18, 2024, Neurogene issued a press release providing an updating, stating that the patient in question "is in critical condition" and that "Neurogene no longer anticipates completing enrollment in the 1E15 vg cohort (low-dose cohort) of NGN-401 in the fourth quarter of 2024".
On this news, Neurogene's stock price fell sharply during intraday trading on November 18, 2024.
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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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
