On or around 10/30/2020 (Date of last review)
Filing Date: October 29, 2020
According to the Complaint, Zosano Pharma Corporation is a clinical stage pharmaceutical company. Its proprietary intracutaneous delivery system purports to offer rapid absorption of drug, consistent drug delivery, improved ease of use, and room-temperature stability. Its intracutaneous patch consists of an array of titanium microneedles that is coated with Zosano’s proprietary formulation of a previously approved drug that is attached to an adhesive patch. The patch purports to offer rapid and consistent delivery of the drug via the microneedles that penetrate the skin, resulting in dissolution and absorption of the drug.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company’s clinical results reflected differences in zolmitriptan exposures observed between subjects receiving different lots; (2) that pharmocokinetic studies submitted in connection with the Company’s NDA included patients exhibiting unexpected high plasma concentrations of zolmitriptan; (3) that, as a result of the foregoing differences among patient results, the FDA was reasonably likely to require further studies to support regulatory approval of Qtrypta; (4) that, as a result, regulatory approval of Qtrypta was reasonably likely to be delayed; and (5) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
Company & Securities Information
Defendant: Zosano Pharma Corporation
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: ZSAN
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.
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First Identified Complaint
Danielle Carr, et al. v. Zosano Pharma Corporation, et al.
COURT: N.D. California
DOCKET #: 20-CV-07625
JUDGE: Hon. Edward M. Chen
DATE FILED: 10/29/2020
CLASS PERIOD START: 02/13/2017
CLASS PERIOD END: 09/30/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Prongay & Murray LLP
The Law Offices of Frank R. Cruz
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available