Robbins Arroyo LLP Is Investigating the Officers and Directors of KemPharm, Inc. (KMPH) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of KemPharm, Inc. (NASDAQGM: KMPH) violated federal securities laws in connection with its initial public offering (“IPO”). KemPharm, a clinical-stage specialty pharmaceutical company, discovers and develops new proprietary prodrugs in the United States.
KemPharm’s Stock Declines Significantly
On April 16, 2015, KemPharm held its IPO, selling 5.09 million shares of stock and raising $60 million in new capital. However, since the IPO, KemPharm’s stock has fallen from its high of $23.63 per share in September 2015 to close at $3.50 per share on October 25, 2016. Its decline was largely due to the company’s May 5, 2016, announcement that two committees of the U.S. Food and Drug Administration had determined that one of the company’s drugs, Apadaz, should be approved for its proposed indication of the management of acute pain that requires an opioid, but voted against inclusion of abuse-deterrent labeling for the product. On this news, KemPharm’s stock dropped 56%, to close at $6.91 per share on May 6, 2016.
KemPharm Pharmaceuticals Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.