A lawsuit was filed on behalf of investors in Fennec Pharmaceuticals Inc. (NASDAQ:FENC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/15/2020 -- An investor, who purchased shares of Fennec Pharmaceuticals Inc. (NASDAQ: FENC), filed a lawsuit against Fennec Pharmaceuticals Inc. over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) have certain options and for certain investors are short and strict deadlines running. Deadline: November 02, 2020. NASDAQ: FENC investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On August 11, 2020, Fennec Pharmaceuticals Inc. disclosed that it had received a Complete Response Letter ("CRL") from the U.S. Food and Drug Administration ("FDA") regarding the Company's New Drug Application ("NDA") for PEDMARK, a formulation of sodium thiosulfate for intravenous administration for the ototoxicity associated with cisplatin chemotherapy. According to the CRL, "after recent completion of a pre-approval inspection of the manufacturing facility of [Fennec's] drug product manufacturer, the FDA identified deficiencies resulting in a Form 483, which is a list of conditions or practices that are required to be resolved prior to the approval of PEDMARK."
The plaintiff claims that between February 11, 2020 and August 10, 2020, the defendants failed to disclose to investors that the manufacturing facilities for PEDMARK, the Company's sole product candidate, did not comply with current good manufacturing practices, that, as a result, regulatory approval for PEDMARK was reasonably likely to be delayed, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) have certain options and should contact the Shareholders Foundation.
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