San Diego, CA -- (ReleaseWire) -- 07/14/2014 -- An investor, who purchased shares of Regado Biosciences Inc (NASDAQ:RGDO), filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Regado Biosciences in connection with certain allegedly false and misleading statements made between August 22, 2013 and July 2, 2014.
Investors whopurchased shares Regado Biosciences Inc (NASDAQ:RGDO) have certain options and for certain investors are short and strict deadlines running. Deadline: September 8, 2014. NASDAQ:RGDO investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Regado Biosciences Inc (NASDAQ:RGDO) common shares between August 22, 2013 and July 2, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the defendants made allegedly false and/or misleading statements and/or failed to disclose that the danger and frequency of allergic reactions experienced by subjects in the REG1 Phase 3 trial were significant enough to derail the trial, that the allergic reactions were of such a serious nature and/or frequency that the Data Safety Monitoring Board ("DSMB") and FDA would ultimately be required to place the clinical trial on hold, and that and as a result of the above, the Company's financial statements were allegedly materially false and misleading at all relevant times.
Regado Biosciences Inc reported that its Net Loss increased from $13.06 million in 2012 to $34.44 million in 2013. Shares of Regado Biosciences Inc (NASDAQ:RGDO) grew from $4.53 per share in September 2013 to as high as $13.50 per share in March 2014.
Then on July 2, 2014 Regado Biosciences Inc, announced, among other things, "that the Data Safety Monitoring Board, or DSMB, has initiated an unplanned review of data from the Company's Phase 3 trial of Revolixys Kit (previously known as REG1), entitled REGULATE-PCI, and that patient enrollment has been paused in the REGULATE-PCI trial until the DSMB has completed its analysis and communicated its recommendations." Shares of Regado Biosciences Inc dropped from $6.99 per share on July 2, 2014, to as low as $2.70 per share during July 3, 2014 and continued to decline to as low as $2.43 per share on July 10, 2014.
Those who purchased shares of Regado Biosciences Inc (NASDAQ:RGDO) have certain options and should contact the Shareholders Foundation.
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