SAN FRANCISCO, Jan. 9, 12, 2022 (GLOBE NEWSWIRE) — Hagens Berman calls on Kiromic BioPharma, Inc. (NASDAQ:KIROMIC) to sell $1.5 billion. KRBP Investors who bought Kiromic shares Submit your losses now.

school lesson: June 25, 2021 – August 13, 2021
Deadline for lead plaintiff: October 4, 2022
Visit: https://www.hbsslaw.com/investor-fraud/KRBP
Contact a lawyer now: [email protected]
844-916-0895

Kiromic BioPharma, Inc. (KRBP) Securities Class Action:

The litigation focuses on Kiromic’s statements regarding the development of two cancer treatment product candidates, ALEXIS-PRO-1 and ALEXIS-ISO-1, which will allow the company to issue 8 million shares at $40 per share to investors, their secondary offering was completed on or about July 1, 2021.

More specifically, Kiromic stated that it has applications to begin human clinical trials for the two new drug candidates, known as Investigational New Drug (“IND”) applications, pending with the FDA, and that the Company has clinical trials within IND applications can begin 30 days thereafter, unless the FDA has imposed a clinical lockdown.

Unbeknownst to investors, on June 16 and 17, 2021, the Company received communications from the FDA informing it that the FDA was placing the IND applications for its two candidate products on clinical hold.

On July 16, 2021, two weeks after completing the order, Kiromic announced that it had received “comments” from the FDA on its two IND applications.

Then, on August 13, 2021, the company clarified that the FDA had placed the INDs on “clinical hold.”

After the lesson, on January 27, 2022, the company’s CEO abruptly resigned.

These events drove the price of Kiromic shares down sharply.

“We are focused on investor losses and proving that Kiromic misled investors by not disclosing the FDA’s June clinical lockdown notices,” said Reed Kathrein, Hagens Berman’s partner, who led the investigation.

If you have invested in Kiromic and suffer significant losses or have knowledge that could assist the firm’s investigations, Click here to discuss your legal rights with…