|Company name||Sarepta Therapeutics, Inc.|
|Class period||September 6, 2017 to August 19, 2019|
|Court||Southern District of New York|
NEW YORK, October 15, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all investors that purchased Sarepta Therapeutics, Inc. (NASDAQ: SRPT) securities between September 2, 2017 to August 19, 2019 (the “Class Period”). Investors have until October 29, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On August 19, 2019, Sarepta announced receipt of a Complete Response Letter (“CRL”) from the FDA regarding the company’s NDA seeking accelerated approval of golodirsen for the treatment of DMD. Sarepta disclosed that “[t]he CRL generally cites two concerns: the risk of infections related to intravenous infusion ports and renal toxicity seen in pre-clinical models of golodirsen and observed following administration of other antisense oligonucleotides.”
On this news, Sarepta’s stock price fell $18.24 per share, or 15.16%, to close at $102.07 per share on August 20, 2019.
The complaint, filed on August 30, 2019, alleges that throughout the Class Period defendants made materially false and misleading statements regarding Sarepta’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) golodirsen posed significant safety risks to patients; (ii) consequently, the NDA package for golodirsen’s accelerated approval was unlikely to receive FDA approval; and (iii) as a result, Sarepta’s public statements were materially false and misleading at all relevant times.
If you purchased Sarepta securities during the Class Period or continue to hold shares purchased before the Class Period, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.