IRVINE, Calif.--(BUSINESS WIRE)--Khang & Khang LLP (the “Firm”) announces that a class action lawsuit has been filed against Chiasma, Inc. (“Chiasma” or the “Company”) (Nasdaq: CHMA). Investors who purchased or otherwise acquired shares between July 15, 2015 and April 17, 2016, inclusive (the “Class Period”), are encouraged to contact the Firm prior to the August 8, 2016, lead plaintiff motion deadline.
If you purchased shares of Chiasma during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at email@example.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, the Company made materially false and/or misleading statements about the Company’s business during the Class Period. The Company failed to disclose that the Phase 3 clinical trial for its oral octreotide, Mycapssa, which was conducted before the July 15, 2015 IPO, was insufficient to prove efficacy and secure FDA approval. Also Chiasma’s supervision of its suppliers was not sufficient enough to prevent deficiencies that delayed FDA approval of Mycapssa. On April 18, 2016 the Company announced that the FDA issued a Complete Response Letter in response to the Company’s New Drug Application for Mycapssa stating that the FDA did not believe the application provided sufficient evidence of efficacy to warrant approval and another clinical trial would be necessary, and that deficiencies with the Company’s suppliers would need to be resolved. When Chiasma announced this news on April 18, 2016 the share price fell 63.13% on that day.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
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