NEW YORK, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Repare Therapeutics Inc. (“Repare” or the “Company”) ( RPTX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Fortuna and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around June 18, 2020, Repare conducted its initial public offering (“IPO”), issuing 11 million shares of common stock priced at $20.00 per share. Then, on February 3, 2023, Morgan Stanley analyst Jeffrey Hung downgraded Repare to Equal Weight from Overweight. Hung cited concerns over an upcoming Phase 1 readout for the Company’s PKMYT1 inhibitor RP-6306, noting that “PKMYT1 is a novel target” and opining that initial Phase 1 data for RP-6306 will focus on Pharmacokinetics, Pharmacodynamics, and proving target inhibition.
On this news, Repare’s stock price fell $0.78 per share, or 5.94%, to close at $12.36 per share on February 3, 2023.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, 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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
