NEW YORK CITY, NY / ACCESSWIRE / November 27, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Neurogene Inc. ("Neurogene" or the "Company") (NASDAQ:NGNE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Neurogene and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 11, 2024, Neurogene issued a press release reporting "interim clinical data in the first four participants in the low-dose cohort of its ongoing Phase 1/2 open-label trial designed to evaluate NGN-401 gene therapy for the treatment of female pediatric patients with Rett syndrome." Although Neurogene characterized the data as "positive", one of two patients given a high dose reported an emerging treatment-related serious adverse event that the Company described as "consistent with known risks of [adeno-associated virus] gene therapy[.]"
On this news, Neurogene's stock price fell $31.53 per share, or 44.08%, to close at $40.00 per share on November 12, 2024.
Then, on November 18, 2024, Neurogene issued a press release providing an updating, stating that the patient in question "is in critical condition" and that "Neurogene no longer anticipates completing enrollment in the 1E15 vg cohort (low-dose cohort) of NGN-401 in the fourth quarter of 2024".
On this news, Neurogene's stock price fell sharply during intraday trading on November 18, 2024.
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SOURCE: Pomerantz LLP