NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces the commencement of an investigation of Intellipharmaceutics International Inc. (NASDAQ: IPCI) concerning possible violations of federal securities laws.
On July 26, 2017, Intellipharmaceutics disclosed that the Anesthetic and Analgesic Drug Products Advisory Committee and Drug Safety and Risk Management Advisory Committee of the U.S. Food and Drug Administration voted 22 to 1 that the New Drug Application for Rexista extended release tablets should not be approved at this time. In addition, the committees voted that Rexista has not demonstrated properties than 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.” Following this news, shares of Intellipharmaceutics were down more than 41% on intraday dating on July 27, 2017.
If you suffered a loss in Intellipharmaceutics and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kkclasslaw.com/IPCI-Info-Request-Form-183.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.