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 Frequency Therapeutics, Inc. (“Frequency” or “the Company”) (NASDAQ: FREQ) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Frequency issued a press release on March 23, 2021, announcing topline data from its FX-322 Phase 2a study (FX-322-202). The Company admitted that "the interim results show that four weekly injections in subjects with mild to moderately severe sensorineural hearing loss (SNHL) did not demonstrate improvements in hearing measures versus placebo." Based on this news, shares of Frequency dropped by almost 78% on the same day.
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