Nabriva Therapeutics plc (NASDAQ: NBRV) Investor Securities Class Action Lawsuit 05/09/2019

If you purchased shares of Nabriva Therapeutics plc (NASDAQ: NBRV), you have certain options and for certain investors are short and strict deadlines running. Deadline: July8, 2019. NASDAQ: NBRV investors should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Nabriva Therapeutics
Case Name: 
Nabriva Therapeutics Shareholder Class Action Lawsuit 05/09/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: NBRV
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
05/09/2019
Class Period Begin: 
11/01/2018
Class Period End: 
04/30/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
07/08/2019
Summary: 

An investor in shares of Nabriva Therapeutics plc (NASDAQ: NBRV) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Nabriva Therapeutics plc in connection with certain allegedly false and misleading statements made between November 1, 2018 and April 30, 2019.

Dublin, Ireland based Nabriva Therapeutics plc, a biopharmaceutical company, engages in the research and development of anti-infective agents to treat infections in humans. Nabriva Therapeutics plc reported that its Total Revenue rose from $5.31 million in 2017 to $9.65 million in 2018 and that its Net Loss increased from $74.35 million in 2017 to $114.78 million in 2018.

On April 30, 2019, Nabriva Therapeutics plc revealed that it had received a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) for its New Drug Application (“NDA”) for CONTEPO™ (fosfomycin) for injection for the treatment of complicated urinary tract infections. According to the CRL, Nabriva Therapeutics plc had to address certain “issues related to facility inspections and manufacturing deficiencies at one of Nabriva’s contract manufacturers” before the FDA would approve the NDA.

Shares of Nabriva Therapeutics plc (NASDAQ: NBRV) declined on May 3, 2019 to as low as $2.02 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of Nabriva Therapeutics plc (NASDAQ: NBRV) common shares between November 1, 2018 and April 30, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 1, 2018 and April 30, 2019, the Defendants failed to disclose to investors that the Company’s manufacturers failed to meet good manufacturing practices, that these manufacturers would be subject to inspections by the FDA in connection with the Company’s NDA, that, as a result of the manufacturing deficiencies, the Company’s NDA for CONTEPO was unlikely to be approved by the FDA; 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.