RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC is investigating Recro Pharma, Inc. (NASDAQ: REPH) (“Recro” or the “Company”) on behalf of the Company’s shareholders. The investigation concerns whether Recro and certain of its officers and/or directors have violated the federal securities laws.
On May 24, 2018, Recro disclosed that the U.S. Food & Drug Administration (“FDA”) declined to approve Recro’s New Drug Application (“NDA”) for the non-opioid pain relief treatment IV meloxicam. The Company further disclosed that the FDA’s Complete Response Letter (“CLR”) “raised CMC related questions on extractable and leachable data provided in the NDA,” and reported that (i) “the FDA is unable to approve the application in its current form” and (ii) “data from ad hoc analyses and selective secondary endpoints suggest that the analgesic effect does not meet the expectations of the FDA.”
Following this news, shares of Recro’s common stock declined in value by over 50%.
Recro investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740, or via www.kaskelalaw.com/case/recro-pharma, to discuss this investigation and their legal rights and options.
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