NEW YORK, July 21, 2014 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP, announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Regado Biosciences, Inc. ("Regado" or the "Company") (Nasdaq:RGDO) securities pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the Company's initial public offering on August 21, 2013, the secondary public offering on April 11, 2014, or on the open market between August 22, 2013 and July 2, 2014, inclusive (the "Class Period").
On July 2, 2014, after the close of trading, the Company announced that the Data Safety Monitoring Board (DSMB) had initiated an unplanned review of data from the Phase 3 clinical trial of Revolixys, that patient enrollment in the clinical trial has been paused until the DSMB has completed its analysis and communicated its recommendations, and that the DSMB will conduct a full analysis of safety and treatment benefit-risk ratio of all patients enrolled to date "with a focus on serious adverse events related to allergic reactions."
As a result of this surprising news, the shares of Regado Biosciences, Inc. closed at $2.81 per share, down $3.95, on the next trading day. This 58% decline represented a market cap loss of $133 million.
If you purchased Regado common stock during the Class Period, you may move to be appointed as lead plaintiff by September 8, 2014. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to "Regado Biosciences, Inc. litigation."
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