ALERT: Pulse Biosciences, Inc. Investors Suffering Substantial Losses Have Opportunity to File Class Action – PLSE
SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces that purchasers of securities of Pulse Biosciences, Inc. (NASDAQ: PLSE) between January 12, 2021 and February 7, 2022 inclusive (the “Class Period”) have until April 18, 2022 to request an appointment as principal applicant in Ngosiok vs. Pulse Biosciences, Inc.., No. 22-cv-00959 (ND Cal.). Started on February 16, 2022, the Pulse Biosciences The class action accuses Pulse Biosciences and some of its top executives of violating the Securities Exchange Act of 1934.
If you have suffered significant losses and wish to act as the lead plaintiff of the Pulse Biosciences class action, please provide your information by clicking here. You can also contact attorney JC Sanchez of Robbins Geller by calling 800/449-4900 or emailing [email protected] Principal Applicant’s Requests for Pulse Biosciences the class action must be filed with the court no later than April 18, 2022.
CASE ALLEGATIONS: Pulse Biosciences is a bioelectrical medicine company and its only commercial product is the CellFX System, which uses Pulse Biosciences’ proprietary nano-pulse stimulation technology to address a variety of applications. In February 2021, Pulse Biosciences received clearance from the United States Food and Drug Administration (“FDA”) for the CellFX system for dermatological procedures requiring skin ablation and resurfacing. In October 2020, Pulse Biosciences initiated its Investigational Device Exemption (“IDE”) study to evaluate the treatment of sebaceous hyperplasia lesions using the CellFX system. The data from this study was intended to support a 510(k) submission to expand the indication for use of the CellFX System to treat sebaceous hyperplasia lesions.
the Pulse Biosciences The class action alleges that, throughout the class period, the defendants made false and misleading statements and failed to disclose that: (i) the IDE study evaluating the use of the CellFX system to treat lesions sebaceous hyperplasia did not meet its primary endpoints; (ii) as a result, there was a substantial risk that the FDA would reject Pulse Biosciences’ 510(k) submission to expand the label of the CellFX system to treat sebaceous hyperplasia lesions; and (iii) therefore, defendants’ positive statements regarding Pulse Biosciences’ business, operations and prospects were materially misleading and/or lacked reasonable basis.
On February 8, 2022, Pulse Biosciences announced that the FDA had concluded that there was insufficient clinical evidence to support Pulse Biosciences’ 510(k) submission to expand the CellFX System label to treat sebaceous hyperplasia. Among other things, the FDA found “that [Pulse Biosciences] did not meet the primary endpoints of the FDA-approved IDE study in sebaceous hyperplasia. On this news, Pulse Biosciences’ share price fell more than 34%, hurting investors.
THE PRINCIPAL APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased securities of Pulse Biosciences during the Class Period to seek appointment as lead plaintiff in the Pulse Biosciences class action. A principal plaintiff is generally the plaintiff with the greatest financial interest in the remedy sought by the putative class that is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members by directing the class action. The lead plaintiff may select a law firm of their choice to litigate the class action. The ability of an investor to share in any potential future rally in the class legal action does not depend on the status of principal plaintiff.
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