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BALA CYNWYD, PA / ACCESSWIRE / August 27, 2019 / Brodsky & Smith, LLC reminds investors of the August 30, 2019 deadline to file to be a lead plaintiff regarding claims against Acer Therapeutics Inc. (“Acer” or the “Company”) (ACER).
Acer is a pharmaceutical company that focuses on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases. Acer’s pipeline includes, inter alia, EDSIVO (celiprolol) for the treatment of vascular Ehlers-Danlos syndrome (“vEDS”) in patients with a confirmed type III collagen mutation. vEDS is a rare disease known to cause abnormal fragility in blood vessels, causing aneurysms, arteriovenous fistulas, arterial dissections, and spontaneous vascular ruptures, all of which are potentially life-threatening.
According to the complaint, on June 25, 2019, Acer issued a press release disclosing that the U.S. Food and Drug Administration (“FDA”) rejected Acer’s NDA for EDSIVO. The press release cited the need for an “adequate and well-controlled trial” evaluating EDSIVO’s effectiveness in reducing the risk of clinical events in patients with vEDS. That same day, Reuters published an article titled “FDA declines to approve Acer Therapeutics’ rare genetic disorder treatment.” In discussing the FDA’s rejection of Acer’s NDA, the article noted how “[t]he small group size” of the Ong Trial had “raised questions among experts about the adequacy of the trial results.” Following this news, Acer’s stock price fell $15.16 per share, or 78.63%, to close at $4.12 per share on June 25, 2019.
The complaint further alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Acer lacked sufficient data to support filing EDSIVO’s NDA with the FDA for the treatment of vEDS; (2) the Ong Trial was an inadequate and ill-controlled clinical study by FDA standards, and was comprised of an insufficiently small group size to support EDSIVO’s NDA; (3) consequently, the FDA would likely reject EDSIVO’s NDA; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you purchased shares of Acer between September 25, 2017 and June 24, 2019 and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is August 30, 2019. You may contact Marc Ackerman, Esquire or Jordan Schatz, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or by calling toll free 877-534-2590. For additional information, go to http://www.brodskysmith.com/cases/acer-therapeutics-inc-nasdaq-acer/, or call: 877-534-2590. No cost or obligation to you.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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