BENSALEM, Pa., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the upcoming November 24, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased BioMarin Pharmaceuticals, Inc. ("BioMarin" or the "Company") (NASDAQ: BMRN) securities between February 28, 2020 and August 18,2020, inclusive (the “Class Period”).
On August 19, 2020, BioMarin announced receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding the Company’s Biologics License Application (“BLA”) for valoctocogene roxaparvovec. Therein, the FDA concluded that the “differences between Study 270-201 (Phase 1/2) and the Phase 3 study limited its ability to rely on the Phase 1/2 study to support durability of effect.” As a result, the FDA recommended that BioMarin “complete the Phase 3 Study and submit two-year follow-up safety and efficacy data on all study participants.”
On this news, the Company’s stock price fell $41.82 per share, or 35%, to close at $76.72 per share on August 19, 2020, thereby injuring investors.
If you purchased BioMarin securities, you may move the Court no later than November 24, 2020 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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