LOS ANGELES, CA / ACCESSWIRE / July 12, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Acer Therapeutics Inc. ("Acer" or "the Company") (NASDAQ: ACER) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Acer disclosed on June 25, 2019 that it received a Complete Response Letter ("CRL") from the FDA on its application for EDSIVO (celiprolol) for the treatment of vascular Ehlers-Danlos syndrome ("vEDS"). The Company admitted that "[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," and that "Acer plans to request a meeting to discuss the FDA's response." Based on this news, shares of Acer fell nearly 80%.
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SOURCE: The Schall Law Firm
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