Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of PTC Therapeutics, Inc. (NASDAQGS: PTCT) violated federal securities laws by issuing materially misleading business information to the investing public. PTC Therapeutics is a biopharmaceutical company that focuses on the discovery, development, and commercialization of orally administered, small molecule drugs that target post-transcriptional control processes.
View this press release on the law firm’s Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/ptc-therapeutics-inc
PTC Therapeutics Discloses Its New Drug Application Was Not Approved
On February 23, 2016, PTC Therapeutics stock fell by over 60% after the company announced that it had received a Refuse to File letter from the U.S. Food and Drug Administration (“FDA”) regarding its New Drug Application for its lead drug candidate, Translarna. The FDA contended that the application was not complete enough to allow it to perform a substantive review of the drug. PTC shares have further declined since the announcement, closing at only $7.99 per share on February 26, 2016.
PTC Therapeutics Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.