The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against Osiris Therapeutics, Inc. (NASDAQ:OSIR) resulting from allegations that the Company may have issued materially false statements to investors about the development and progress of its medical products.
On October 21, 2013, shares fell $2.98 or by 17.01%, closing at $14.51. This occurred after the Company revealed that the Food and Drug Administration (“FDA”) classified OSIR’s wound care product, Grafix, as a drug thereby requiring additional regulatory measures. On September 26, 2013, OSIR received an untitled letter from the FDA raising compliance and regulatory issues with several of the Company’s products. In their press release on October 21, 2013, OSIR stated that it reached an agreement with the FDA on September 30, 2013. Part of that agreement includes that OSIR will have to file a Biologics License Application in order to obtain the drug’s approval from the FDA.
The Rosen Law Firm is investigating a securities class action lawsuit on behalf of OSIR investors. If you have any information to aid the investigation or if you purchased or acquired OSIR stock and would like to recover your losses, please visit the website at http://rosenlegal.com for more information. You may also contact Laurence Rosen, Esq., or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.Attorney Advertising. Prior results do not guarantee a similar outcome.