San Diego, CA -- (SBWIRE) -- 07/29/2014 -- An investor, who purchased shares of Prosensa Holding NV (NASDAQ:RNA), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Prosensa Holding NV in connection with certain allegedly false and misleading statements made in connection with the Company’s initial public offering on or about June 28, 2013
Investors who purchased shares of Prosensa Holding NV (NASDAQ:RNA) have certain options and for certain investors are short and strict deadlines running. Deadline: September 16, 2014. NASDAQ:RNA investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Prosensa Holding NV (NASDAQ:RNA) pursuant and/or traceable to the Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s initial public offering (“IPO”) on or about June 28, 2013,, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff alleges that the Registration Statement contained materially false and/or misleading statements and/or omitted material information concerning the development status of drisapersen, the drug’s Phase II and Phase III clinical studies, and the prospects for drisapersen’s regulatory approval.
Prosensa Holding NV reported that its annual Total Revenue declined from $8.69 million in 2011 to $7.85 million in 2012 while its respective Net Loss decreased from $11.58 million to $9.89 million. For the first quarter in 2013 Prosensa Holding NV reported quarterly Revenue of $2.4 million, compared to $1.97 million in the first quarter in 2012 and for the second quarter in 2013 Prosensa Holding NV reported quarterly Revenue of $1.98 million, compared to $1.25 million in 2012. In June 2013 Prosensa Holding NV went public. Shares of Prosensa Holding NV (NASDAQ:RNA) rose from $19.25 per share in early July 2013 to $3.28 per share on August 1, 2013.
Then on Sept. 20, 2013, GlaxoSmithKline and Prosensa Holding NV announced that the Phase III clinical study of drisapersen, an investigational antisense oligonucleotide, for the treatment of Duchenne Muscular Dystrophy patients with an amenable mutation, did not meet the primary endpoint of a statistically significant improvement in the 6 Minute Walking Distance test compared to placebo. Shares of Prosensa Holding NV (NASDAQ:RNA) dropped from $24.00 per share on Sept. 19, 2013, to as low as $3.60 per share on November 1, 2013.
On July 25, 2014 NASDA:RNA shares closed at $9.65 per share.
Those who purchased shares of Prosensa Holding NV (NASDAQ:RNA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego