ACCESS Newswire
29 Sep 2022, 02:43 GMT+10
SAN FRANCISCO, CA / ACCESSWIRE / September 28, 2022 / Hagens Berman urges Kiromic BioPharma, Inc. (NASDAQ:KRBP) investors who purchased Kiromic shares to submit your losses now.
Class Period: June 25, 2021 - Aug. 13, 2021
Lead Plaintiff Deadline: Oct. 4, 2022
Visit: https://www.hbsslaw.com/investor-fraud/KRBP
Contact An Attorney Now: [email protected]
844-916-0895
Kiromic BioPharma, Inc. (KRBP) Securities Class Action:
The litigation focuses on Kiromic's statements about its development of two cancer treatment product candidates, ALEXIS-PRO-1 and ALEXIS-ISO-1, allowing it to issue 8 million shares at $40 per share to investors, which secondary offering closed on or about July 1, 2021.
More specifically, Kiromic represented that it had applications to begin human clinical trials for the two new drug candidates, known as Investigational New Drug ('IND') applications, pending with FDA, and that the Company could commence clinical trials within 30 days of those IND applications unless the FDA imposed a clinical hold.
Unbeknownst to investors, the Company had received communications from the FDA on June 16 and 17, 2021, informing it that the FDA was placing the IND applications for its two candidate products on clinical hold.
On July 16, 2021, two weeks after the closing of the ordering, Kiromic disclosed that it had received 'comments' from the FDA on its two IND applications.
Then, on Aug. 13, 2021, the Company clarified that the FDA had put the INDs on 'clinical hold.'
After the class period, on Jan. 27, 2022, the Company's CEO abruptly departed.
These events have driven the price of Kiromic shares sharply lower.
'We're focused on investors' losses and proving Kiromic misled investors by failing to disclose the June FDA clinical hold communications,' said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Kiromic and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Kiromic should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
# # #
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
Get a daily dose of California Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to California Telegraph.
More InformationGENEVA, Switzerland: A new United Nations report alleges that dozens of global corporations are profiting from and helping sustain...
LONDON, UK - Lawmakers in the United Kingdom have voted overwhelmingly to proscribe the direct-action group Palestine Action as a terrorist...
DHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...
WASHINGTON, D.C.: In a significant ruling last week, the U.S. Supreme Court upheld a Texas law requiring age verification for users...
ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...
VENICE, Italy: Over the weekend, hundreds of protesters marched through the narrow streets of Venice to voice their opposition to billionaire...
NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...