Recro Pharma, Inc. Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Recro Pharma, Inc. (“Recro Pharma” or the “Company”) (NASDAQ: REPH). This investigation concerns whether Recro Pharma has violated federal securities laws and/or engaged in other unlawful business practices.
On May 11, 2020, Recro Pharma reported worse-than-expected financial results for the first quarter and revised its 2020 revenue guidance down from a range of $97-100 million to a range of $80-85 million. In revising its guidance, Recro Pharma cited several factors, including: (i) increased competition by one of the Company’s key customer’s competitors, (ii) slower than expected new business growth primarily attributable to COVID-19, and (iii) notifications by two customers of discontinuations for two commercial product lines.
On this news, Recro Pharma shares fell $3.34, or 39.6%,to close at $8.42 per share on May 11, 2020.
If you acquired Recro Pharma 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 email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.