LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP, representing investors of Regado Biosciences, Inc. (“Regado” or the “Company”) (NASDAQ:RGDO), has filed a class action lawsuit in the United States District Court for the District of New Jersey on behalf of a class (the “Class”) comprising all purchasers of Regado securities pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on or about August 21, 2013, or on the open market between August 22, 2013 and July 2, 2014, inclusive (the “Class Period”).
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Regado is a biopharmaceutical company, focused on the discovery and development of antithrombotic drug systems for acute and sub-acute cardiovascular and other indications. The Company’s lead product candidate, Revolixys™ Kit, is an anticoagulant for use in patients with a wide variety of acute coronary syndromes. The Complaint alleges that defendants made false and misleading statements or failed to disclose that: (1) the administration of Revolixys presented a significant risk of severe allergic reaction, which substantially undermined Revolixys’ potential to become the new standard of care for anticoagulation therapy for patients undergoing cardiovascular procedures such as percutaneous coronary intervention (“PCI”) to open or widen obstructed coronary arteries; (2) the Company’s positive statements about Revolixys’ clinical development and potential to become the standard of care for anticoagulation therapy for patients undergoing PCI and other cardiovascular procedures, were materially false and misleading or lacked a reasonable basis.
On July 2, 2014, the Company announced that the Data Safety Monitoring Board (DSMB) has initiated an unplanned review of data from the Phase 3 clinical trial of Revolixys, that patient enrollment in the clinical trial has been paused until the DSMB has completed its analysis and communicated its recommendations and that the DSMB will conduct a full analysis of safety and treatment benefit-risk ratio of all patients enrolled to date “with a focus on serious adverse events related to allergic reactions.” Following this news, Regado shares declined $3.95 per share, or more than 58 percent, to close on July 3, 2014, at $2.81 per share, on unusually heavy volume.
If you are a member of the Class described above, you may move the Court no later than September 8, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at 646-539-8980, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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