NEW YORK–(BUSINESS WIRE)–Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of BioMarin Pharmaceutical (“BioMarin” or the “Company”) (NASDAQ: BMRN) resulting from allegations that BioMarin might have issued misleading information to the investing public.
If you purchased BioMarin securities, and/or would like to discuss your legal rights and options please visit BMRN Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
On August 19, 2020, BioMarin announced receipt of a Complete Response Letter (“CRL”) from the FDA to the Company’s BLA for valoctocogene roxaparvovec. BioMarin advised investors that in the CRL, “the FDA introduced a new recommendation for two years of data from the Company’s ongoing 270-301 study (Phase 3) to provide substantial evidence of a durable effect using Annualized Bleeding Rate (ABR) as the primary endpoint” and “recommended that the Company complete the Phase 3 Study and submit two-year follow-up safety and efficacy data on all study participants.” In explaining the new recommendation, the “FDA concluded that the differences between Study 270-201 (Phase 1/2) and the Phase 3 study limited its ability to rely on the Phase 1/2 study to support the durability of effect.”
On this news, BioMarin’s stock price fell $41.82 per share, or 35.28%, to close at $76.72 per share on August 19, 2020.
If you purchased BioMarin securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/biomarinpharmaceuticalsinc-bmrn-shareholder-class-action-lawsuit-stock-fraud-316/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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