PR Newswire
LOS ANGELES, Oct. 11, 2023
LOS ANGELES, Oct. 11, 2023 /PRNewswire/ -- The Law Offices of Frank R. Cruz continues its investigation of Outset Medical, Inc. ("Outset Medical" or the "Company") (NASDAQ: OM) on behalf of investors concerning the Company's possible violations of federal securities laws.
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On July 7, 2023, Outset Medical disclosed that it had received a Warning Letter from the United States Food and Drug Administration ("FDA") which "assert[ed] that certain materials reviewed by the FDA and found on the Company's website promote continuous renal replacement therapy (CRRT), a modality outside of the current indications for the Tablo Hemodialysis System" and that "the TabloCart with Prefiltration . . . requires prior 510(k) clearance for marketing authorization."
On this news, Outset Medical's stock price fell $1.20, or 5.9%, to close at $19.26 per share on July 10, 2023, thereby injuring investors.
Then, on October 12, 2023, after the market closed, healthcare company Novo Nordisk announced that one of its diabetes treatments could also be used to treat chronic kidney disease. On this news, Outset Medical's stock price fell as much as 23% during intraday trading on October 11, 2023, thereby injuring investors.
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If you purchased Outset Medical 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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
