LogicBio Therapeutics, Inc.
The law firm of Kirby Mcinerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of those who acquired LogicBio Therapeutics, Inc. (“LogicBio” or the “Company”) (NASDAQ: LOGC) securities during the period from December 3, 2018 through February 10, 2020 (the “Class Period”). Investors have until May 18, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company failed to disclose that: (i) LogicBio’s behind-schedule and rushed Investigational New Drug (“IND”) submission of LB-001 did not answer certain pertinent clinical and nonclinical questions; and (2) as a result, the U.S. Food and Drug Administration was likely to hold or deny the IND submission of LB-001 for treatment of methylmalonic acidemia (MMA).
On February 10, 2020, LogicBio announced that “the U.S. Food and Drug Administration (FDA) has placed a clinical hold on the Investigational New Drug (IND) submission for LB-001 for the treatment of methylmalonic acidemia (MMA) pending the resolution of certain clinical and nonclinical questions.”
On this news, shares of LogicBio fell $3.34, or 31.9%, to close at $7.11 per share on February 11, 2020.
If you acquired LogicBio securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.