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NEW YORK, NY / ACCESSWIRE / September 1, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Poseida Therapeutics, Inc. ("Poseida" or the "Company") (NASDAQ:PSTX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Poseida and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around July 10, 2020, Poseida completed its initial public offering ("IPO"), issuing 14 million shares of common stock priced at $16.00 per share. Then, on August 18, 2020, Poseida disclosed that the U.S. Food and Drug Administration ("FDA") had placed a clinical hold on Poseida's Phase 1 clinical trial evaluating the autologous CAR-T therapy P-PSMA-101 in patients with metastatic castration-resistant prostate cancer. The FDA placed the hold in order to investigate a patient's death that occurred in late July.
On this news, Poseida's stock price fell $3.94 per share, or 30.31%, to close at $9.06 per share on August 18, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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