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Glancy Binkow & Goldberg LLP Announces An Expanded Class Period in the Shareholder Lawsuit Against Regado Biosciences, Inc.

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Glancy Binkow & Goldberg LLP announces that the shareholder lawsuit filed on behalf of investors of Regado Biosciences, Inc. (“Regado” or the “Company”) (NASDAQ:RGDO) in the United States District Court for the District of New Jersey has been expanded to include all purchasers of Regado securities between August 22, 2013 and July 9, 2014 (the “Class Period”), including purchasers pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company’s August 21, 2013, initial public offering.

Regado is a biopharmaceutical company, focused on the discovery and development of antithrombotic drug systems for acute and sub-acute cardiovascular and other indications. The Company’s lead product, RevolixysTM Kit, was being developed as an anticoagulant for use in patients with acute coronary syndromes. The Complaint alleges that defendants made false and misleading statements or failed to disclose that:

  • The administration of Revolixys presented a significant risk of severe allergic reaction, which substantially undermined its potential to become the new standard of care for anticoagulation therapy for patients undergoing certain cardiovascular procedures.
  • The Company’s positive statements about Revolixys’ clinical development and potential to become the standard of care for anticoagulation therapy for patients undergoing cardiovascular procedures were materially false and misleading or lacked a reasonable basis.

On August 25, 2014, Regado announced that the Company decided to permanently terminate enrollment in the Company’s Phase 3 trial of Revolixys, based on a recommendation from the trial’s Data Safety Monitoring Board. According to the Company, the Data Safety Monitoring Board indicated that “the level of serious allergic adverse events associated with Revolixys was of a frequency and severity such that they recommended that we do not enroll any further patients.” Following this news, the price of Regado shares dropped approximately 58%, or $1.69 per share, in intraday trading on August 25, 2014.

If you are a member of the Class described above, you may move the Court no later than September 8, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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