NEW YORK, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Verve Therapeutics, Inc. (“Verve” or the “Company”) ( VERV). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Verve and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 31, 2022, Verve issued a press release “announc[ing] that preclinical data supporting VERVE-101 as a treatment for heterozygous familial hypercholesterolemia (HeFH), a genetic form of atherosclerotic cardiovascular disease (ASCVD), has been published in the American Heart Association’s peer-reviewed journal Circulation.” According to the preclinical data reported by the Company, VERVE-101 did not demonstrate significantly greater efficacy than statins, the traditional treatment for patients with high cholesterol.
On this news, Verve’s stock price fell $3.00 per share, or 7.37%, to close at $37.70 per share on October 31, 2022.
Then, on November 7, 2022, Verve announced that “the U.S. Food and Drug Administration (FDA) has placed a hold on its IND application to conduct a clinical trial evaluating VERVE-101 in patients with heterozygous familial hypercholesterolemia (HeFH) . . . in the United States.”
On this news, Verve’s stock price fell $9.54 per share, or 30.49%, to close at $21.75 per share on November 7, 2022.
Then, on December 5, 2022, Verve disclosed that the FDA had requested additional data to resolve the clinical hold.
On this news, Verve’s stock price fell $2.58 per share, or 10.75%, to close at $21.42 per share on December 5, 2022.
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
