Case Page

 

Case Status:    ONGOING    
On or around 07/26/2017 (Ongoing date of last review)

Filing Date: June 09, 2016

According to the law firm press release, Chiasma, a late-stage biopharmaceutical company, focuses on developing and commercializing oral forms of therapies for patients suffering from orphan diseases. Chiasma was founded in 2001 and is headquartered in Newton, Massachusetts.

The Company’s lead product candidate is oral octreotide, or Mycapssa, for the treatment of acromegaly, a condition that results in the body’s production of excess growth hormone. As of June 2015, prior to Chiasma’s IPO, the Company had completed a multinational Phase 3 clinical trial of Mycapssa and submitted a new drug application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) seeking approval for marketing and sale of Mycapssa.

On or about July 15, 2016, Chiasma completed its IPO, issuing 6.4 million shares and raising net proceeds of approximately $102 million.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Chiasma’s Phase 3 clinical trial methodology for Mycapssa was not sufficient to demonstrate efficacy and secure FDA approval; (ii) Chiasma’s supervision of its suppliers was not sufficient to prevent deficiencies that would delay FDA approval of Mycapssa; and (iii) as a result of the foregoing, Chiasma’s public statements were materially false and misleading at all relevant times.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CHMA
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 16-CV-11082
JUDGE: Hon. Denise J. Casper
DATE FILED: 06/09/2016
CLASS PERIOD START: 07/15/2015
CLASS PERIOD END: 04/17/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Block & Leviton LLP
    155 Federal Street, Suite 1303, Block & Leviton LLP, MA 02110
    (617) 398-5600 (617) 507-6020 ·
  2. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  3. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 16-CV-11082
JUDGE: Hon. Denise J. Casper
DATE FILED: 02/10/2017
CLASS PERIOD START: 07/15/2015
CLASS PERIOD END: 04/17/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hutchings, Barsamian, Mandelcorn & Zeytoonian, LLP

    ·
  2. Johnson & Weaver, LLP (Marietta)
    40 Powder Springs Street, Johnson & Weaver, LLP (Marietta), GA 30064
    770/200-3104 770/200-3101 ·
  3. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date