BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Intellipharmaceutics International Inc. (“Intellipharmaceutics” or the “Company”) (NASDAQ: IPCI) investors concerning the Company and its officers’ possible violations of federal securities laws.
On July 26, 2017, Intellipharmaceutics disclosed that the Anesthetic and Analgesic Drug Products Advisory Committee and the Drug Safety and Risk Management Advisory Committee of the U.S. Food and Drug Administration (“FDA”) voted 22 to 1 against approval of the Company’s New Drug Application for Rexista, an opioid painkiller. The FDA committees also voted that Rexista had not demonstrated properties that can be expected to deter abuse by the intravenous route, and that there was insufficient data to support inclusion of language regarding abuse-deterrent properties in the product label for the intravenous route of administration.
On this news, the Company’s share price fell $1.13 per share, or 45.3% on July 27, 2017, thereby injuring investors.
If you purchased Intellipharmaceutics 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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