According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- quality control deficiencies existed at the Company’s manufacturing facility for DaxibotulinumtoxinA for injection (“DAXI”), the Company’s lead drug candidate;
- the foregoing deficiencies decreased the likelihood that the U.S. Food and Drug Administration (“FDA”) would approve the DAXI Biologics License Application (“BLA”) in its current form;
- accordingly, it was unlikely that the DAXI BLA would obtain FDA approval within the timeframe the Company had represented to investors; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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