ORPHAZYME A/S CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed against Orphazyme A/S in the United States District Court for the Northern District of Illinois

Jul 27, 2021 1:48 PM ET

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 Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against Orphazyme A/S in the United States District Court for the Northern District of Illinois on behalf of those who purchased or otherwise acquired the American Depositary Receipts ("ADRs") of Orphazyme A/S between September 29, 2020 and June 18, 2021, inclusive (the "Class Period").


All investors who purchased the ADRs of Orphazyme A/S and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.


If you have incurred losses in the ADRs of Orphazyme A/Syou may, no later than September 7, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the ADRs of Orphazyme A/S.


On March 29, 2021, Orphazyme issued a press release "announc[ing] its Phase 2/3 trial evaluating arimoclomol for the treatment of [IBM] … did not meet its primary and secondary endpoints." On this news Orphazyme's ADRs fell $3.59 per ADR, or 28.97%, to close at $8.80 per ADR on March 29, 2021.


Subsequently on May 7, 2021, Orphazyme issued a press release "announc[ing] topline data from pivotal trial of arimoclomol in [ALS.]" The press release disclosed that the Company's "pivotal trial…did not meet its primary and secondary endpoints to show benefit in people living with ALS." On this news, Orphazyme's ADS price fell $2.81 per ADR, or 32.83%, to close at $5.75 per ADR on May 7, 2021.


Finally,  on June 18, 2021, Orphazyme issued a press release announcing receipt of a Complete Response Letter ("CRL") from the FDA following the agency's review of the NDA for arimoclomol for the treatment of NPC. The press release disclosed that the FDA had rejected the arimoclomol NDA for NPC.


On this news, Orphazyme's ADS price fell $7.23 per ADR, or 49.66%, to close at $7.33 per ADR on June 18, 2021.


Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New YorkChicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.


If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.


Contact:


Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected][email protected] or [email protected] 
Tel: (800) 575-0735 or (212) 545-4774


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