Recent Securities Litigations
LogicBio Therapeutics Inc. Common Stock (NASDAQ: LOGC)
According to the Complaint, LogicBio Therapeutics, Inc. purports to be a genome editing company, focused on developing medicines to treat rare diseases in patients with unmet medical need using GeneRide technology platform. The Company’s lead product candidate is LB-001 for the treatment of Methylmalonic Acidemia (“MMA”), a life-threatening disease that presents at birth.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) LogicBio’s behind-schedule and rushed Investigational New Drug (“IND”) submission of LB-001 did not answer certain pertinent clinical and nonclinical questions; (2) as a result, the U.S. Food and Drug Administration was likely to hold or deny the IND submission of LB-001 for treatment of methylmalonic acidemia (MMA); and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.