SAN FRANCISCO, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Reata Pharmaceuticals, Inc. (NASDAQ: RETA) investors with significant losses to submit your losses now.
Reata Pharmaceuticals, Inc. (RETA) Investigation:
The investigation focuses on Reata’s and senior management’s statements about the company’s Phase 3 (CARDINAL) study evaluating bardoxolone methyl in patients with chronic kidney disease caused by Alport syndrome and the related new drug application (“NDA”).
In the past, the company and its management claimed the CARDINAL study showed that bardoxolone met its primary and secondary endpoints, increased the potential of this therapeutic agent gaining regulatory approval as the first approved therapy for Alport syndrome, and supported the submission of the NDA to the FDA.
These claims were brought into question on Dec. 6, 2021, when the FDA released a set of briefing documents ahead of the Dec. 8, 2021 Cardiovascular and Renal Drugs Advisory Committee meeting. These documents revealed that during meetings in January, September and December 2020, the FDA disagreed with Reata’s proposed approach toward its NDA submission and voiced concerns about the interpretability of certain findings, the amount of missing data, and the integrity of the trial data.
This news drove the price of Reata shares sharply lower on Dec. 6, 2021.
“We’re focused on investors’ losses and whether Reata and its management may have misled investors about the study data or about their communications with the FDA,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Reata Pharmaceuticals and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Reata Pharmaceuticals should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email RETA@hbsslaw.com.
About Hagens Berman
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Reed Kathrein, 844-916-0895