IRVINE, Calif. -- (Business Wire)
Khang & Khang LLP (the “Firm”) announces that a class action lawsuit has
been filed against Chiasma, Inc. (“Chiasma” or the “Company”) (Nasdaq:
CHMA). Investors who purchased or otherwise acquired shares between July
15, 2015 and April 17, 2016, inclusive (the “Class Period”), are
encouraged to contact the Firm prior to the August 8, 2016, lead
plaintiff motion deadline.
If you purchased shares of Chiasma during the Class Period, please
contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman
Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by
e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until certification
occurs, you are not represented by an attorney. You may choose to take
no action and remain a passive class member.
According to the complaint, the Company made materially false and/or
misleading statements about the Company’s business during the Class
Period. The Company failed to disclose that the Phase 3 clinical trial
for its oral octreotide, Mycapssa, which was conducted before the July
15, 2015 IPO, was insufficient to prove efficacy and secure FDA
approval. Also Chiasma’s supervision of its suppliers was not sufficient
enough to prevent deficiencies that delayed FDA approval of Mycapssa. On
April 18, 2016 the Company announced that the FDA issued a Complete
Response Letter in response to the Company’s New Drug Application for
Mycapssa stating that the FDA did not believe the application provided
sufficient evidence of efficacy to warrant approval and another clinical
trial would be necessary, and that deficiencies with the Company’s
suppliers would need to be resolved. When Chiasma announced this news on
April 18, 2016 the share price fell 63.13% on that day.
If you wish to learn more about this lawsuit, or if you have any
questions concerning this notice or your rights, please contact Joon M.
Khang, a prominent litigator for almost two decades, by telephone: (949)
419-3834, or by e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160624005800/en/
Contacts:
Khang & Khang LLP
Joon M. Khang, Esq.
Telephone:
949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
Source: Khang & Khang LLP
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