INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Zafgen, Inc. Investors
BENSALEM, Pa., March 30, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces an investigation on behalf of Zafgen, Inc. investors (“Zafgen” or the “Company”) (NASDAQ: ZFGN ) concerning the Company and its officers’ possible violations of federal securities laws.
On March 11, 2019, the Company revealed that it is shelving another drug due to safety concerns. Testing on the company’s lead drug for Type 2 diabetes, ZGN-1061, remains on a clinical hold in the U.S. nearly six months after the FDA voiced concerns about a potential cardiovascular safety risk. Zafgen was forced to stop development of its first diabetes drug, Beloranib, after two clinical trials participants died from blood clots in 2016.
On this news, shares of Zafgen fell $1.71, or 37% to close at $2.89 on March 12, thereby injuring investors.
If you purchased Zafgen securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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