NEW YORK, Sept. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Kiromic BioPharma Inc. (“Kiromic” or the “Company”) KRBP. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.
The investigation concerns whether Kiromic and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On July 2, 2021, Kiromic completed a public offering of 8 million shares of common stock at a price of $5.00 per share, conducted pursuant to a registration statement filed with the US Securities and Exchange Commission on June 25, 2021 (the “Offering”) . On August 13, 2021, the Company issued a press release citing “clinical lockdown issues” affecting the Company’s investigational drug applications for two immunotherapy products, but otherwise not further addressing those issues. The press release states in the relevant part under the heading Events that occurred after June 30, 2021 through August 13, 2021: “Communication with the FDA – Supported by IQVIA, rather than responding to the FDA’s questions with only a written response (WRO ) we have made the decision to request a Type A meeting with the FDA. The Type A meeting will address clinical storage issues and allow us to discuss the route to our first human dosing.”
Then, on November 18, 2021, the Company received a written notice from the Nasdaq Stock Market (“Nasdaq”) Listing Qualifications Department advising the Company that it had complied with Nasdaq’s continued listing requirements pursuant to Nasdaq Listing Rule 5250 ( c )(1) as a result of failure to timely file its quarterly report on Form 10-Q for the quarter ended September 30, 2021. Finally, on January 27, 2022, Kiromic announced Maurizio Chiriva-Internati as Chief Executive Officer for…
