Lawsuit filed for Investors in NASDAQ: RETA shares over alleged Securities Laws Violations by Reata Pharmaceuticals, Inc.

An investor, who purchased shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA), filed a lawsuit over alleged violations of Federal Securities Laws by Reata Pharmaceuticals, Inc..

Investors who purchased shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) have certain options and for certain investors are short and strict deadlines running. Deadline: February 18, 2022. NASDAQ: RETA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Plano, TX based Reata Pharmaceuticals, Inc., a clinical stage biopharmaceutical company, develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation. On March 1, 2021, Reata Pharmaceuticals, Inc announced that it had submitted its New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) for bardoxolone as a treatment of chronic kidney disease (“CKD”) caused by Alport syndrome (“AS”). The Phase 3 CARDINAL study was purportedly designed to measure the efficacy and safety of bardoxolone. The primary endpoint for Year 2 was the change from baseline in estimated glomerular filtration rate (“eGFR”) after 100 weeks of treatment (end-of-treatment). The key secondary endpoint for Year 2 was the change from baseline in eGFR at Week 104 (four weeks after last dose in second year of treatment).

On December 6, 2021, the FDA released a briefing document regarding Reata Pharmaceuticals, Inc’s chronic kidney disease drug candidate, bardoxolone methyl. Therein, the FDA stated that the data submitted by Reata Pharmaceuticals, Inc did not “demonstrate that bardoxolone is effective in slowing the loss of kidney function in patients with [Alport syndrome].”

Shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) declined from $95.34 per share on December 1, 2021, to $27.50 per share on December 10, 2021.
The plaintiff alleges on behalf of purchasers of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) common shares between November 9, 2020 and December 8, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 9, 2020 and December 8, 2021, the Defendants failed to disclose to investors that the FDA had raised concerns regarding the validity of the clinical study designed to measure the efficacy and safety of bardoxolone for the treatment of chronic kidney disease caused by Alport syndrome, that, as a result, there was a material risk that Reata’s NDA would not be approved, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.