NEW YORK, NY / ACCESSWIRE / March 10, 2021 / Pomerantz LLP is investigating claims on behalf of investors of Galapagos NV ("Galapagos" or the "Company") (NASDAQ:GLPG). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Galapagos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 10, 2021, Galapagos and its development partner Gilead Sciences ("Gilead") issued a press release "announc[ing] the decision to halt the ISABELA Phase 3 clinical studies with the investigational autotaxin inhibitor ziritaxestat in patients with idiopathic pulmonary fibrosis." Galapagos and Gilead stated that "[t]he decision is based on the recommendations of the Independent Data Monitoring Committee (IDMC) which, following a regular review of unblinded data, concluded that ziritaxestat's benefit-risk profile no longer supported continuing these studies."
On this news, Galapagos's stock price fell $19.41 per share, or 17.76%, to close at $89.90 per share on February 10, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP