SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of KemPharm, Inc. (KMPH)
NEW YORK, Jan. 23, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of KemPharm, Inc. ("KemPharm" or the "Company") (NASDAQ: KMPH). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/kmph.
The investigation concerns whether KemPharm and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
In December 2015, KemPharm submitted a New Drug Application to the U.S. Food and Drug Administration ("FDA") for the its Apadaz product, envisioned to be branded as an "abuse-deterrent" opioid product offering equivalent effectiveness to the existing standard-of-care products, but with less of an addictive effect.
On April 16, 2015, KemPharm sold 5,090,909 shares in its Initial Public Offering and raised $52,079,999 in new capital. On May 5, 2016, KemPharm announced that the Anesthetic and Analgesic Drug Products Advisory Committee and the Drug Safety and Risk Management Advisory Committee of the FDA had reviewed and voted 18 to 2 against Apadaz and inclusion of abuse-deterrent labeling for the product. The FDA identified an issue with the study design of the drug that made it problematic to use in assessing the abuse-deterrent effect of the drug. Following this news, KemPharm stock dropped $8.76 per share, or 55.9%, to close at $6.91 on May 6, 2016.
If you are aware of any facts relating to this investigation, or purchased KemPharm shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/kmph. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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