NEW YORK, April 25, 2024: Wolf Popper LLP is continuing to investigate potential securities fraud claims on behalf of purchasers of Harmony Biosciences Holdings, Inc. (“Harmony”) common stock (NASDAQ: HRMY).
Harmony is a commercial and clinical stage drug company that focuses on therapies for patients with rare neurological diseases.
Before the market opened on March 28, 2023, Scorpion Capital published a short seller report headlined “The Latest Price-Gouging Ploy By The Grifter Who Inspired Convicted Felon Martin Shkreli, But This Time People Have Blood On Their Hands: A $175,000 Per Year Drug With Alarming Toxicity And A Trail Of Covered-Up Deaths And Injuries; No Efficacy; A Non-Existent Mechanism of Action; Sham Patents; Based On Scam Clinical Trials In Places Like Russia And Turkey By A French Quack; Pushed Via False Advertising And A Vast Off-Label And Physician Kickback Scheme.” The Report alleges the FDA has received dozens of serious adverse event reports regarding Harmony’s FDA approved drug WAKIX that “paint a devastating picture of the drug’s risk.” Furthermore, Scorpion Capital wrote that, based on information in the Report, it “believe[s] explosive information was concealed from the FDA that would have prevented approval in 2019.” On this news, Harmony’s stock price fell $10.70 per share to $30.80 on March 28, 2023, down 25.8% on very heavy volume.
Investors who have lost over $50,000 trading in Harmony’s common stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or asavett@wolfpopper.com.
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