Investigation Launched into Capricor Therapeutics Claims
Capricor Therapeutics Under Investigation
Pomerantz LLP is currently probing claims related to Capricor Therapeutics, Inc. (NASDAQ: CAPR) on behalf of its investors. This investigation seeks to determine whether the company, along with certain officials and directors, has potentially engaged in unlawful business practices or securities fraud.
Recent Developments in Capricor's Operations
On May 5, Capricor announced completion of a mid-cycle review meeting with the U.S. Food and Drug Administration (FDA). The meeting was pivotal to the approval process of deramiocel, a new investigational cell therapy aimed at treating Duchenne muscular dystrophy (DMD) cardiomyopathy. Following this announcement, there was substantial concern regarding the drug's future.
Unfortunately, following the FDA announcement, Capricor's share price experienced a steep decline. On May 6, shares plummeted by $3.00, approximately 29.13%, settling at $7.30. This decline raised significant alarms among investors.
Impact of FDA Advisory Committee Meeting Cancellation
In addition, on June 20, further negative news broke when it was reported that the FDA had canceled the advisory committee meeting for deramiocel. This decision stemmed from uncertainties surrounding the drug's efficacy and safety, leading to another sharp decline in Capricor’s stock. The share price fell by $3.68, a notable 30.82%, closing at $8.26 that day. This news was disheartening for both investors and the company's future.
About Pomerantz LLP
Pomerantz LLP, a New York-based law firm, has a long-standing reputation in class action litigation, specifically in corporate, securities, and antitrust issues. Established by Abraham L. Pomerantz, known for his expertise in securities class actions, the firm has fought for the rights of those affected by corporate misconduct for over 85 years. Their record includes substantial recoveries for individuals and entities impacted by securities fraud.
Daniel Peyton, a representative from Pomerantz, urges investors impacted by the recent events to reach out for more information regarding their rights and potential actions.
Frequently Asked Questions
What is the current investigation about?
The investigation pertains to potential securities fraud and unlawful practices by Capricor Therapeutics, Inc.
What triggered the share price drop for Capricor?
The drop in share price was primarily due to news from the FDA about deramiocel and the subsequent cancellation of an advisory committee meeting.
Who is Pomerantz LLP?
Pomerantz LLP is a law firm recognized for its work in corporate securities and antitrust class actions, established for over 85 years.
How can affected investors reach out?
Affected investors can contact Danielle Peyton at Pomerantz LLP for assistance and information regarding the investigation.
What are the potential outcomes of this investigation?
Outcomes may include legal actions that could lead to recoveries for investors affected by any misconduct.
About The Author
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