Lawsuit filed for Investors in Reata Pharmaceuticals, Inc. (NASDAQ: RETA) shares

An investor, who purchased shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA), filed a lawsuit iover 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: December 14, 2020. NASDAQ: RETA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 10, 2020, during pre-market hours, Reata Pharmaceuticals, Inc. announced its second quarter 2020 financial results, wherein it disclosed that the FDA "is not convinced that the MOXIe Part 2 results" of the Company's study assessing omaveloxolone for the treatment of FA "will support a single study approval without additional evidence that lends persuasiveness to the results," and that, "[i]n preliminary comments for [a] meeting, the FDA stated that [Defendants] will need to conduct a second pivotal trial that confirms the mFARS [modified Friedreich's Ataxia Rating Scale] results of the MOXIe Part 2 study with a similar magnitude of effect."

Shares of Reata Pharmaceuticals, Inc. (NASDAQ: RETA) declined from $257.96 per share in February 2020 to as low as $88.17 per share on September 28, 2020.

The plaintiff claims that between October 15, 2019 and August 7, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that the MOXIe Part 2 study results were insufficient to support a single study marketing approval of omaveloxolone for the treatment of FA in the U.S. without additional evidence, that as a result, it was foreseeable that the FDA would not accept marketing approval of omaveloxolone for the treatment of FA in the U.S. based on the MOXIe Part 2 study results, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

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

Media 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 class actions, 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.