SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Reminds Investigation of Zafgen, Inc. (ZFGN)
NEW YORK, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Zafgen, Inc. (“Zafgen” or the “Company”) (NASDAQ: ZFGN). Investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/zfgn.
The investigation concerns whether Zafgen and certain of its officers and/or directors have violated federal securities laws.
On November 26, 2018, Zafgen announced receipt of a letter from the U.S. Food and Drug Administration (“FDA”) placing a clinical hold on the Investigational New Drug Application for its first U.S. clinical trial of ZGN-1061, the Company’s second-generation, investigational MetAP2 inhibitor currently in development for the treatment of type 2 diabetes. Zafgen stated that “[t]he FDA cited the possibility of cardiovascular (CV) safety risk based on the Company’s prior compound and outlined multiple potential paths for moving forward, including nonclinical or clinical options, to address these concerns in the ongoing development of ZGN-1061”, and further advised investors that “[t]he Company plans to assess these options and request a Type A meeting with the [FDA] to discuss next steps with the program.” Following these disclosures, Zafgen’s stock price fell $3.69 per share, or 40.55%, to close at $5.41 per share on November 26, 2018.
If you are aware of any facts relating to this investigation, or purchased Zafgen shares, you can assist this investigation by visiting the firm’s site: bgandg.com/zfgn. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | email@example.com