WELLINGTON, Fla., June 26, 2019 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO LAW”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action Experience, including cases against ENRON and Halliburton) advises investors of its pending investigation on Acer Therapeutics Inc. (NasdaqCS: ACER). The Firm’s investigation concerns whether Acer or any of its officers and directors violated federal securities laws. Acer’s insiders own over 19% of the company’s shares.
On June 25, 2019, Acer disclosed receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding its new drug application for Edsivo (celiprolol) for the treatment of vascular Ehlers-Danlos syndrome (“vEDS”). Acer reported yesterday, “[t]he CRL states that it will be necessary to conduct an adequate and well-controlled trial to determine whether celiprolol reduces the risk of clinical events in patients with vEDS. Acer plans to request a meeting to discuss the FDA’s response.” Indeed, the FDA declined to approve Acer’s drug, and the CRL implies a delay in such approval. On this news, Acer’s stock price fell more than 78%, and just today, Acer has fallen an additional 5%. On July 1, 2014, Acer traded over $127 per share. Today it is trading under $4 per share.
All investors are welcome to contact BARJO LAW for more information. If you are aware of any facts relating to this investigation, or if you purchased Acer shares prior to the plunge, you can assist BARJO LAW with its investigation. You may, without obligation or cost to you, contact Barbuto & Johansson’s Managing Partner, Anthony Barbuto, at (888) 715-2520 or via email at firstname.lastname@example.org, or Neil Rothstein via his cell at (330) 860-4092 or email at email@example.com.
Barbuto & Johansson, P.A., is a law firm based out of Palm Beach County, Florida. Its attorneys are licensed to practice law in Florida, California, New Jersey and Pennsylvania. To learn more about BARJO LAW, you may visit www.barjolaw.com.
Barbuto & Johansson, P.A.
Anthony Barbuto, Managing Partner
Toll Free: 1-888-715-2520
12773 W. Forest Hill Blvd., Suite 101
Wellington, FL 33414