NEW YORK, NY / ACCESSWIRE / November 11, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Savara Inc. ("Savara" or the "Company") (SVRA). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Savara and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 2, 2019, pre-market, Savara disclosed the response from a Type C meeting with the U.S. Food and Drug Administration ("FDA") regarding the Company's Molgradex development program for autoimmune pulmonary alveolar proteinosis (aPAP). Specifically, Savara advised investors that "the FDA indicated that the data provided in the briefing package do not provide sufficient evidence of efficacy and safety and did not recommend that the Company submit a Biologics License Application (BLA)."
On this news, Savara's stock price fell $1.45 per share, or 58.47%, to close at $1.03 per share on October 2, 2019.
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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