LOS ANGELES, July 29, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Kiroma BioPharma, Inc. ("Kiroma" or the "Company") (NASDAQ: KRBP) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Kiromic conducted its initial public offering on or around October 16, 2020, selling 1.25 million shares of common stock, priced at $12.00 per share. Kiromic issued a press release on July 16, 2021 which disclosed, following the May 2021 submission of two Investigational New Drug Applications ("INDs") to the U.S. Food and Drug Administration ("FDA"), that "for the first-in-human off-the-shelf allogeneic CAR-T for Solid Tumors", the "FDA returned with comments on the Company's allogeneic CAR-T products with respect to . . . Tracing of all reagents used in manufacturing . . . Flow chart of manufacturing processes . . . [and] Certificate of Analysis (COA) for the Company's CAR-T products (allogeneic CAR-T)."
On July 16, 2021, Kiromic's stock price fell $0.63 per share, or 16.76%, on this news, to close at $3.13 per share.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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