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Investigation announced for Investors who lost money with shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA)

06-02-2023 12:26 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Reata Pharmaceuticals, Inc. (NASDAQ: RETA) shares over potential securities laws violations

An investigation for investors in Reata Pharmaceuticals, Inc. (NASDAQ: RETA) shares over potential securities laws violations

An investigation was announced for investors of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) shares over potential securities laws violations by Reata Pharmaceuticals, Inc.

Investors who purchased shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA), 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 possible claims on behalf of purchasers of the securities of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) concerning whether a series of statements by Reata Pharmaceuticals, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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. Reata Pharmaceuticals, Inc. reported that its annual Total Revenue declined from $11.49 million in 2021 to $2.216 million in 2022, and that its Net Loss increased from $297.38 million in 2021 to $311.90 million in 2022.

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]."

On May 10, 2023, Reata Pharmaceuticals, Inc., announced its financial results for the first quarter of 2023. Among other items, Reata Pharmaceuticals, Inc announced its decision to discontinue studies for its kidney disease candidate bardoxolone methyl, which the Company had previously advanced as one of its lead assets in partnership with Blackstone Life Sciences and Kyoma Kirin.

Shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) declined from $106.69 per share on May 09, 2023 to $76.54 per share on May 10, 2023.

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.

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