BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it has commenced an investigation on behalf of Recro Pharma, Inc. (“Recro Pharma” or the “Company) (NASDAQ: REPH) investors concerning the Company and its officers’ possible violations of federal securities laws.
On May 24, 2018, Recro Pharma announced that it received a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding the Company’s New Drug Application (“NDA”) for IV meloxicam. In the CRL, the FDA informed the Company that the FDA was “unable to approve the application in its current form” because “data from ad hoc analyses and selective secondary endpoints suggest that the analgesic effect does not meet the expectations of the FDA” and “the CRL raised CMC related questions on extractable and leachable data provided in the NDA.”
On this news, Recro Pharma’s share price fell $6.79 per share, or 54.7%, to close at $5.63 per share on May 24, 2018, thereby injuring investors.
If you purchased Recro Pharma 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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