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Acer Therapeutics Must Face Most Claims in Securities Class Suit

June 17, 2020, 11:07 PM

Acer Therapeutics Inc., a small biotechnology company, must face most claims in a securities class action brought by purchasers of Acer securities who say the company made materially false and misleading statements regarding interactions with the FDA for a new drug.

Lead plaintiff Nicholas Skiadas alleges that Acer, its founder, and its chief financial officer misled investors about what the FDA had “agreed to” in a September 2015 meeting regarding the status of Edsivo, which Acer hoped would become the first FDA-approved drug to successfully treat Vascular Ehlers-Danlos Syndrome. The FDA ultimately rejected Acer’s new drug application.

According to the...

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