LOS ANGELES, CA / ACCESSWIRE / March 24, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Spruce Biosciences, Inc. ("Spruce" or "the Company") (NASDAQ: SPRB) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Spruce is the subject of a Seeking Alpha report published on March 13, 2024. According to the report, the Company's "stock plunged 75% in post-market trading Tuesday on news that the company plans to cut 21% of its workforce in the wake of a failed Phase 2 study for its drug candidate tildacerfont." The report continues, "The biotech company said the study, called CAHmelia-203, failed to meet its primary endpoint and was being terminated as a result. The study had been evaluating tildacerfont in the treatment of adult classic congenital adrenal hyperplasia, or CAH, with severe hyperandrogenemia."
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm