|Company name||Recro Pharma, Inc.|
NEW YORK, May 13, 2020 –Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Recro Pharma, Inc. (NASDAQ: REPH) on behalf of Recro Pharma stockholders. Our investigation concerns whether Recro Pharma has violated the federal securities laws and/or engaged in other unlawful business practices.
On May 11, 2020, Recro Pharma reported worse-than-expected financial results for the first quarter and revised its 2020 revenue guidance down from a range of $97-100 million to a range of $80-85 million. In revising its guidance, Recro Pharma cited several factors, including: (i) increased competition by one of the Company’s key customer’s competitors, (ii) slower than expected new business growth primarily attributable to COVID-19, and (iii) notifications by two customers of discontinuations for two commercial product lines.
On this news, Recro Pharma’s share price fell $3.34, or 39.6%,to close at $8.42 per share on May 11, 2020.
If you purchased or otherwise acquired Recro Pharma shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore or by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.