NEW YORK, Aug. 16, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Reata Pharmaceuticals, Inc. (“Reata” or the “Company”) ( RETA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Reata and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 10, 2020, Reata disclosed in its quarterly report for the second quarter of 2020 that the U.S. Food and Drug Administration (“FDA”) “is not convinced that the MOXIe Part 2 results” of the Company’s study assessing omaveloxolone for the treatment of Friedreich’s ataxia “will support a single study approval without additional evidence that lends persuasiveness to the results. In preliminary comments for the meeting, the FDA stated that we will need to conduct a second pivotal trial that confirms the mFARS results of the MOXIe Part 2 study with a similar magnitude of effect.” On this news, Reata’s stock price fell sharply during intraday trading on August 10, 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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
