Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aquestive Therapeutics, Inc. (AQST)
Glancy Prongay & Murray LLP (“GPM”) is reminding investors of the upcoming April 30, 2021 deadline to file lead plaintiff motion in the class action lawsuit filed on behalf of investors Aquestive Therapeutics, Inc. (“Aquestive “or the” Company “securities (NASDAQ: AQST) between December 2, 2019 and September 25, 2020 inclusive (the” Class Period “).
If you have suffered a loss on your Aquestive investments or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, your contact information can be found at https://www.glancylaw.com/cases / submit aquestive-therapeutics -inc /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or by email at Shareholder@glancylaw.com to learn more about your rights.
Aquestive is a specialty pharmaceutical company. The most advanced proprietary product candidate is Libervant, a buccally soluble film formulation of diazepam for the treatment of recurrent epileptic seizures.
On December 2, 2019, Aquestive announced that it has completed ongoing submission of a new drug application (“NDA”) to the US Food and Drug Administration (“FDA”) for Libervant Buccal Film for the treatment of seizure clusters.
On September 25, 2020, Aquestive announced that it had received a Full Response Letter (“CRL”) from the FDA stating that the NDA would not be approved in its current form. According to the CRL, “certain weight groups showed lower than desired drug exposure in a study submitted by the company to the NDA.” The company stated that it “intends to provide the FDA with additional information on PK modeling to demonstrate that dose adjustments will get the desired exposure levels”.
In that news, Aquestive’s share price fell $ 2.64 per share, or approximately 35%, to close at $ 4.97 per share on September 28, 2020.
The story goes on
The complaint filed in this class action alleges that throughout the collection period the defendants made materially false and / or misleading statements and did not disclose material adverse facts about the business, business and prospects of the company. In particular, Defendants have failed to advise investors that: (1) the data included in the Libervant NDA template showed lower drug exposure than desired for certain weight groups; (2) the foregoing has significantly reduced the approval prospects of the Libervant NDA; (3) As a result, it was foreseeable that the FDA would not approve the Libervant NDA in its current form. and (4) as a result, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or were unfounded at all relevant times.
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If you have purchased or otherwise acquired Aquestive securities during the class period, you will have no later than April 30, 2021 to seek the appointment of the lead plaintiff in this alleged class action lawsuit. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action or have any questions about this announcement or your rights or interests in relation to the pending class action, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, toll free at 888-773-9224, email email@example.com, or visit our website at www.glancylaw.com. When inquiring by email, please include your postal address, telephone number and the number of shares purchased.
This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210312005072/de/
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224