The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Zosano Pharma Corporation (NASDAQ: ZSAN) who purchased shares between February 13, 2017 and September 30, 2020. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Zosano lawsuit alleges that (1) the Company’s clinical results reflected differences in zolmitriptan exposures observed between subjects receiving different lots; (2) pharmocokinetic studies submitted in connection with the Company’s New Drug Application included patients exhibiting unexpected high plasma concentrations of zolmitriptan; (3) as a result of the foregoing differences among patient results, the U.S. Food and Drug Administration was reasonably likely to require further studies to support regulatory approval of the Company’s lead product candidate, Qtrypta; (4) as a result, regulatory approval of Qtrypta was reasonably likely to be delayed; and (5) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
Shareholders have until December 28, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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