BioMarin Pharmaceutical Inc. Securities Litigation
On or around 01/08/2021 (Date of last review)
Filing Date: September 25, 2020
According to the Complaint, BioMarin Pharmaceutical Inc. is a biotechnology company that develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The Company’s product candidates include, among others, valoctocogene roxaparvovec, an investigational AAV gene therapy, which is in Phase 3 clinical development for the treatment of patients with severe hemophilia A.
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, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) differences between the Phase 1/2 and Phase 3 study of valoctocogene roxaparvovec limited the reliability of the Phase 1/2 study to support valoctocogene roxaparvovec's durability of effect; (ii) as a result, it was foreseeable that the FDA would not approve the BLA for valoctocogene roxaparvovec without additional data; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
On December 22, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel.
Company & Securities Information
Defendant: BioMarin Pharmaceutical Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: BMRN
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.
First Identified Complaint
Bill Tsantes, et al. v. BioMarin Pharmaceutical Inc., et al.