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BENSALEM, Pa., March 30, 2019 (GLOBE NEWSWIRE) – Howard G. Smith Law Firms Announce Opening of Investigation on behalf of Zafgen, Inc. ("Zafgen") Investors or the "Company") (NASDAQ: ZFGN) regarding Possible Offenses by the Corporation and its Officers to Federal Securities Laws.
On March 11, 2019, the Company disclosed that it was scrapping another medication for safety reasons. Testing of the company's lead drug for type 2 diabetes, ZGN-1061, remains unresolved in the United States nearly six months after the FDA raised concerns about a potential risk of cardiovascular safety. Zafgen was forced to stop developing its first diabetes drug, Beloranib, after two participants in a clinical trial died of blood clots in 2016.
On this news, Zafgen shares lost $ 1.71, or 37%, to close at $ 2.89 on March 12, thus hurting investors.
If you have purchased Zafgen securities, if you have information or would like to know more about these claims, or if you have any questions regarding this announcement or your rights or interest in these matters, please contact Howard G Smith, Esquire, of the Law Offices of Howard. G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, PA, 19020, by phone at (215) 638-4847, toll free at (888) 638-4847 or by e-mail at the address [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered as an advertisement by a lawyer in certain jurisdictions under the law and applicable ethical rules.
contacts
Howard G. Smith Law Offices
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
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