LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Global Blood Therapeutics, Inc. (“Global Blood” or “the Company”) (NASDAQ: GBT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Stat published an article about Global Blood, claiming that there are “important risks that investors might be glossing over” about the likelihood of Global Blood’s new drug for sickle cell disease, voxelotor, being approved by the FDA. The article refers to recent results of a Phase 3 clinical trial, stating “Global Blood lacks data demonstrating voxelotor reduces the frequency of crises,” a typically necessary requirement for FDA approval for sickle cell disease. The article also asserted, “[i]n the Phase 3 study, voxelotor did not improve the quality of life of sickle cell patients.” Based on this article, Global Blood’s share price fell more than 7% on the same day.
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