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NEW YORK, Nov. 10, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Novavax, Inc. ("Novavax" or the "Company") (NASDAQ: NVAX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Novavax and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 16, 2024, Novavax issued a press release "announc[ing] that the U.S. Food and Drug Administration (FDA) has placed a clinical hold on Novavax's (NVAX) Investigational New Drug (IND) application for its COVID-19-Influenza Combination (CIC) and stand-alone influenza vaccine candidates." Novavax specified that "[t]he clinical hold is due to a spontaneous report of a serious adverse event (SAE) of motor neuropathy in a single CIC Phase 2 trial participant outside of the U.S. who received the vaccine in January 2023" and "reported the SAE in September 2024."
On this news, Novavax's stock price fell $2.45 per share, or 19.44%, to close at $10.15 per share on October 16, 2024.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP