NEW YORK, Oct. 09, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against on behalf of investors of Evolus, Inc. (NASDAQ: EOLS), Lizhi, Inc. (NASDAQ: LIZI), Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), and Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB). Our investigation concerns whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each potential case can be found at the link provided.
Evolus, Inc. (NASDAQ: EOLS)
Evolus is a California based medical aesthetics company. The Company and its South Korean partner, Daewoong Pharmaceutical Co. (“Daewoong”) developed Jeuveau, a competitor to Allergan’s Botox. Jeuveau has recently become a strong, more affordable competitor of Botox.
On July 6, 2020, Judge David Shaw of the International Trade Commission issued a preliminary ruling in a trade secrets action accusing Evolus and Daewoong of having developed Jeuveau, using trade secrets stolen from Allergan’s partner company, Medytox. In a non-binding decision, the judge sided with Allergan and Medytox and recommended a 10-year ban on Jeuveau imports to the United States.
On this news, shares of Evolus fell sharply, from $5.55 per share to close at $3.25 per share on July 7, 2020, representing a loss of more than 41%.
For more information on our investigation into Evolus go to: https://bespc.com/EOLS
Lizhi, Inc. (NASDAQ: LIZI)
On or around January 17, 2020, Lizhi conducted its initial public offering (“IPO”), issuing 4.1 million American depositary shares (“ADSs”) priced at $11.00 per ADS.
Since the IPO, Lizhi’s ADS price has fallen precipitously, closing at $2.77 per ADS on September 22, 2020, representing a decline of 74.82% from the IPO price.
For more information on the Lizhi investigation go to: https://bespc.com/LIZI
Iovance Biotherapeutics, Inc. (NASDAQ: IOVA)
On October 5, 2020, Iovance issued a press release “provid[ing] a regulatory update for its tumor-infiltrating lymphocyte (TIL) therapy lifileucel in metastatic melanoma.” Specifically, Iovance advised investors that “the Company and the [U.S. Food and Drug Administration] have not been able to agree on the required potency assays to fully define its TIL therapy, which is required as part of a BLA [Biologics License Application] submission. The Company is continuing to refine the information from its current potency assays and simultaneously developing additional assays. As a result of these developments, the BLA submission is not expected by the end of 2020.”
On this news, Iovance’s stock price fell $3.96 per share, or 12.35%, to close at $28.10 per share on October 6, 2020.
For more information on the Iovance investigation go to: https://bespc.com/IOVA
Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB)
On October 5, 2020, Y-mAbs issued a press release disclosing receipt of “a Refusal to File letter from the U.S. Food and Drug Administration (‘FDA’) regarding the Biologics License Application (‘BLA’) for omburtamab for the treatment of pediatric patients with CNS/leptomeningeal metastasis from neuroblastoma, which was submitted in August 2020.”
Y-mAbs advised investors that “[u]pon preliminary review, the FDA determined that certain parts of the Chemistry, Manufacturing and Control ('CMC') module and the Clinical module of the BLA require further detail.”
On this news, y-mAbs’s stock price fell $3.57 per share, or 8.56%, to close at $38.13 per share on October 6, 2020.
For more information on the Y-mAbs investigation go to: https://bespc.com/YMAB
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.