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Investigation announced for Investors in shares of AVROBIO, Inc. (NASDAQ: AVRO)

03-26-2020 08:33 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in AVROBIO, Inc. (NASDAQ: AVRO) shares over potential securities laws violations by AVROBIO, Inc.

An investigation for investors in AVROBIO, Inc. (NASDAQ: AVRO) shares over potential securities laws violations by AVROBIO, Inc.

An investigation was announced over potential securities laws violations by AVROBIO, Inc. in connection with certain financial statements.

Investors who purchased shares of AVROBIO, Inc. (NASDAQ: AVRO), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by AVROBIO, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Cambridge, MA based AVROBIO, Inc., a clinical-stage gene therapy company, focuses on developing ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose in the United States. On March 16, 2020, AVROBIO, Inc. released its financial and operating results for the fourth quarter and fiscal year 2019. The Company reported a net loss of $22.7 million for the quarter and a loss of $73 million for the year. These results are especially negative when compared to the Company's loss of $16 million for the fourth quarter of 2018 and $46.4 million for the fiscal year of 2018. AVROBIO, Inc. commented on its increasing losses, staying: "These increases were due to increased research and development expenses, as well as increased general and administrative expenses." Shares of AVROBIO, Inc. (NASDAQ: AVRO) declined from $29.32 per share on February 12, 2020, to as low as $9.76 per share on March 17, 2020.

Those who purchased shares of AVROBIO, Inc. (NASDAQ: AVRO) have certain options and should contact the Shareholders Foundation.

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

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