An investor in NASDAQ:CHMA filed a lawsuit over alleged violations of Securities Laws by Chiasma Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Chiasma Inc (NASDAQ:CHMA) have certain options and for certain investors are short and strict deadlines running. Deadline: August 8, 2016. NASDAQ:CHMA investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
In July 2015 Chiasma Inc offered more than 6,300,000 shares of its common stock at $16.00 per share in connection with its initial public stock offering (“IPO”).
The plaintiff alleges on behalf of purchasers of Chiasma Inc (NASDAQ:CHMA) common shares between July 15, 2015 and April 17, 2016, that the defendants violated Federal Securities Laws under the Securities Exchange Act of 1934 and the Securities Act of 1933. More specifically, the plaintiff claims that Defendants made false and/or misleading statements and/or failed to disclose that Chiasma’s Phase 3 clinical trial methodology for Mycapssa was not sufficient to demonstrate efficacy and secure FDA approval, that Chiasma’s supervision of its suppliers was not sufficient to prevent deficiencies that would delay FDA approval of Mycapssa, and that as a result of the foregoing, Chiasma’s public statements were materially false and misleading at all relevant times.
On April 15, 2016, U.S. Food and Drug Administration (“FDA”) reported its decision on Chiasma’s acromegaly candidate, Mycappsa. The FDA issued a complete response letter and said that the new drug application (NDA) for its treatment of a rare ailment related to the pituitary gland was not ready for approval in its present form. Shares of Chiasma Inc (NASDAQ:CHMA) declined on May 13, 2016, to as low as $2.50 per share.
On June 17, 2016, NASDAQ:CHMA shares closed at $2.67 per share.
Those who purchased NASDAQ:CHMA shares have certain options and should contact the Shareholders Foundation.
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