HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages BioMarin Pharmaceutical (BMRN) Investors to Contact Its Attorneys, Securities Fraud Class Action Filed

HagensBerman-BMRN

<br /> HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages BioMarin Pharmaceutical (BMRN) Investors to Contact Its Attorneys, Securities Fraud Class Action Filed<br />

PR Newswire

SAN FRANCISCO, Sept. 28, 2020

SAN FRANCISCO

,

Sept. 28, 2020

/PRNewswire/ — Hagens Berman urges BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) investors to

contact the firm now

. A securities fraud class action has been filed and certain investors may have valuable claims.

Class Period:

Feb. 28, 2020 –

Aug. 18, 2020

Lead Plaintiff Deadline:

Nov. 24, 2020

Visit:

www.hbsslaw.com/investor-fraud/BMRN

Contact An Attorney Now:

[email protected]

844-916-0895

BioMarin Pharmaceutical (BMRN) Securities Class Action

:

The complaint alleges that Defendants’ statements misrepresented and concealed material information about BioMarin’s valoctocogene roxaparvovec product candidate, potentially the first gene therapy approved by the U.S. FDA for hemophilia in the U.S.

Specifically, throughout the Class Period, Defendants misstated or omitted to disclose that (1) differences between the phase 1/2 and phase 3 study of valoctocogene roxaparvovec limited the reliability of the phase 1/2 study to support valoctocogene roxaparvovec’s durability of effect, and (2) as a result, it was foreseeable that the FDA would not approve BioMarin’s Biologics License Application (“BLA”) for valoctocogene roxaparvovec without additional data.

Investors allegedly began to learn the truth on

Aug. 19, 2020

, when BioMarin announced it received the FDA’s complete response letter (“CRL”) to the BLA indicating the FDA recommended the company submit additional data upon completion of the phase 3 study since the difference between the phase 1/2 and phase 3 studies limited the FDA’s ability to rely on the phase 1/2 study to support the durability of effect.

Analysts at

Guggenheim

were shocked by the Company’s disclosure, noting “[t]his news came as a negative surprise to us in light of mgt commentary and other launch-related prep (by BMRN and other payers) and pushes out a potential Roctavian approval until ~2022.”

This news drove the price of BioMarin shares down over 35% that day.

“We’re focused on investors’ losses and proving Defendants misled investors about the phase 1/2 reliability for the BLA,” said

Reed Kathrein

, the Hagens Berman partner leading the investigation.

If you are a BioMarin investor or may assist the firm’s investigation,

click here to discuss your legal rights with Hagens Berman

.

Whistleblowers:

Persons with non-public information regarding BioMarin should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call

Reed Kathrein

at

844-916-0895

or email

[email protected]

.

About Hagens Berman

Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at

hbsslaw.com

. For the latest news visit our

newsroom

or follow us on Twitter at

@classactionlaw

.