NEW YORK, Oct. 23, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Zosano Pharma Corp. (NASDAQ: ZSAN) on behalf of Zosano stockholders. Our investigation concerns whether Zosano has violated the federal securities laws and/or engaged in other unlawful business practices.
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On September 30, 2020, Zosano Pharma Corp. stunned the market when it announced that it had received “a discipline review letter (DRL) from the U.S. Food and Drug Administration” in connection with Zosano’s new drug application for Qtrypta™. Per Zosano’s announcement, the FDA “raised questions regarding unexpected high plasma concentrations of zolmitriptan observed in five study subjects from two pharmacokinetic studies and how the data from these subjects affect the overall clinical pharmacology section of the application.” The FDA further “raised questions regarding differences in zolmitriptan exposures observed between subjects receiving different lots of Qtrypta in the company’s clinical trials.”
On this news, the price of Zosano stock fell approximately 57%, to close at just $.70 per share on October 1, 2020.
Then on October 21, 2020, Zosano announced that it had received a Complete Response Letter from the FDA, in which the FDA recommended that Zosano conduct a repeat bioequivalence study between three of the lots used during development.
On this news, Zosano’s stock price fell another 27%, to close at just $0.4441 per share.
If you purchased or otherwise acquired Zosano Pharma shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.