SAN DIEGO & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces that it is investigating LogicBio Therapeutics, Inc. (NASDAQ: LOGC) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. LogicBio is a genome editing company that focuses on developing medicines to treat rare diseases in patients. LogicBio's lead product candidate is LB-001 for the treatment of Methylmalonic Acidemia ("MMA").
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LogicBio Therapeutics, Inc. (LOGC) Accused of Misleading Shareholders
On April 1, 2019, LogicBio touted its progress with LB-001 stating "the Company continues to advance its lead product candidate to an expected Investigational New Drug (IND) by the end of 2019" and into a Phase 1/2 clinical trial in MMA patients in 2020. Then, on January 10, 2020, the Company announced the submission of its IND with the U.S. Food and Drug Administration (FDA). Finally, on February 10, 2020, LogicBio revealed that "the [FDA] has placed a clinical hold on the [IND] submission for LB-001 for the treatment of methylmalonic acidemia (MMA) pending the resolution of certain clinical and nonclinical questions." On this news, LogicBio's share price fell almost 32%, to close at $7.11 per share. The stock continues to decline.
LogicBio Therapeutics, Inc. (LOGC) Shareholders Have Legal Options
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