A class action lawsuit has been filed against REGENXBIO Inc. alleging material misrepresentations regarding the clinical development and safety profile of its investigational therapy RGX-111. According to the litigation, the company made public statements that were not consistent with internal data regarding the candidate's efficacy and adverse event profile during clinical trials.
The lawsuit was prompted by the discovery of an intraventricular central nervous system tumor in a study participant, an event that allegedly contradicted the company's prior public communications to investors. The disclosure of this adverse outcome resulted in significant losses for shareholders who had invested based on the company's prior statements about the program's prospects and safety record.
The Schall Law Firm is organizing a class action vehicle to consolidate investor claims arising from the trading losses. Shareholders who purchased REGENXBIO securities during the period when the alleged misstatements were in effect may be eligible to participate in the litigation.