Pomerantz Regulation Company Announces the Submitting of a Course Action against Voyager Therapeutics, Inc. and Specified Officers – VYGR
NEW YORK, Jan. 23, 2021 /PRNewswire/ — Pomerantz LLP announces that a class motion lawsuit has been submitted towards Voyager Therapeutics, Inc. (“Voyager” or the “Organization”) (NASDAQ: VYGR) and particular of its officers. The class motion, filed in United States District Court docket for the Jap District of New York, and docketed underneath 21-cv-00381, is on behalf of a course consisting of all individuals and entities other than Defendants that ordered or if not acquired Voyager securities involving June 1, 2017 and November 9, 2020, equally dates inclusive (the “Class Period of time”), in search of to get better damages prompted by Defendants’ violations of the federal securities legal guidelines and to pursue cures less than Sections 10(b) and 20(a) of the Securities Trade Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, towards the Company and particular of its leading officers.
If you are a shareholder who procured Voyager securities throughout the Class Period of time, you have until finally March 24, 2021 to talk to the Courtroom to appoint you as Direct Plaintiff for the class. A duplicate of the Complaint can be obtained at www.pomerantzlaw.com. To go over this action, get in touch with Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free of charge, Ext. 7980. All those who inquire by e-mail are inspired to include their mailing tackle, phone quantity, and the number of shares acquired.
[Click here for information about joining the class action]
Voyager, a clinical-stage gene remedy corporation, focuses on the growth of treatments for patients suffering from serious neurological ailments. Bundled in the Company’s preclinical applications is VY-HTT01 for Huntington’s Disorder. Voyager signify that VY-HTT01 is supposed to function by knocking down HTT expression in neurons and astrocytes in the striatum and cortex (discrete areas in the mind that can be qualified with adeno-associated virus (“AAV”) gene remedy sent specifically into the brain), thereby reducing the level of toxicity connected with mutated protein in these mind locations, and slowing the development of cognitive and motor signs or symptoms.
On June 1, 2017, Voyager issued a press release saying that it had selected VY-HTT01 as a lead scientific candidate for the therapy of Huntington’s disorder. The push launch also indicated that, “[p]reclinical pharmacology and toxicology scientific studies [were] underway with VY-HTT01 to assistance filing of an investigational new drug (IND) software in 2018.”
In September 2020, Voyager submitted an investigational new drug (“IND”) software for VY-HTT01 for the therapy of Huntington’s ailment to the U.S. Foodstuff and Drug Administration (“Fda”).
The Complaint alleges that during the Class Time period, Defendants created materially phony and misleading statements, and failed to disclose materials adverse details about the Company’s organization, operational, and compliance guidelines. Specially, Defendants created bogus and/or misleading statements and unsuccessful to disclose to traders that: (i) the Firm’s VY-HTT01 IND submission to the Fda lacked important data concerning specific chemistry, producing and controls (“CMC”) issues, which include, inter alia, drug-gadget compatibility and drug substance and merchandise characterization (ii) the Company’s IND submission for VY-HTT01 was for that reason deficient (iii) the Business experienced thus materially overstated the probability of Food and drug administration approval for VY-HTT01 based mostly on the IND submission and (iv) as a end result, the Firm’s general public statements have been materially untrue and deceptive at all suitable occasions.
On Oct 12, 2020, Voyager issued a press release disclosing that it “has been given responses from the U.S. Foodstuff and Drug Administration (Fda) on the Investigational New Drug (IND) submission for VY-HTT01 for the treatment method of Huntington’s disease.” Exclusively, Voyager encouraged buyers that it “has been notified that the IND was positioned on scientific hold pending the resolution of selected chemistry, producing and controls (CMC) issues.”
Then, on November 9, 2020, Voyager issued a push release announcing the Firm’s third quarter 2020 economical effects and company updates. In the press launch, the Corporation disclosed that, with respect to its IND application for VY-HTT01, “Voyager not too long ago obtained composed responses from the Fda requesting added information and facts on precise CMC subject areas, like drug-product compatibility and drug compound and product or service characterization.”
On this information, Voyager’s stock value fell $2.60 for every share, or 23.21%, to near at $8.60 per share on November 10, 2020.
The Pomerantz Business, with workplaces in New York, Chicago, Los Angeles, and Paris is acknowledged as one particular of the premier companies in the spots of corporate, securities, and antitrust course litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class motion bar, the Pomerantz Firm pioneered the area of securities course steps. Today, additional than 80 decades later, the Pomerantz Company continues in the custom he proven, fighting for the legal rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Organization has recovered a lot of multimillion-greenback damages awards on behalf of course customers. See www.pomerantzlaw.com
Contact:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
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