BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Chiasma, Inc. (“Chiasma” or the “Company”) (NASDAQ: CHMA) concerning the Company and its officers’ possible violations of federal securities laws.
On April 15, 2016, Chiasma announced that it had received a Complete Response Letter from the United States Food and Drug Administration (“FDA”) rejecting the company’s New Drug Application for Mycapssa (octreotide) capsules for the maintenance treatment of U.S. adult patients with acromegaly. The Company later announced on April 18, 2016 that the FDA “did not believe the company’s application had provided substantial evidence of efficacy to warrant approval, and advised Chiasma that it would need to conduct another clinical trial in order to overcome this deficiency.”
On this news, Chiasma shares fell $6.42 per share, or 63%, to close at $3.75 per share on April 18, 2016, thereby injuring investors.
If you purchased Chiasma 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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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