LOS ANGELES–(BUSINESS WIRE)–$BMRN #classaction—The Law Offices of Frank R. Cruz announces an investigation of BioMarin Pharmaceuticals Inc. (“BioMarin” or the “Company”) (NASDAQ: BMRN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 19, 2020, BioMarin announced receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding the Company’s Biologics License Application (“BLA”) for valoctocogene roxaparvovec. Therein, 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 durability of effect.” As a result, the FDA recommended that BioMarin “complete the Phase 3 Study and submit two-year follow-up safety and efficacy data on all study participants.”
On this news, the Company’s stock price fell $41.82 per share, or 35%, to close at $76.72 per share on August 19, 2020, thereby injuring investors.
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If you purchased BioMarin securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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