A securities class action has been filed in the USDC – N.J. against Rocket Pharmaceuticals, Inc. (RCKT) (“Rocket” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Rocket common stock between February 27, 2025, and May 26, 2025, both dates inclusive (the “Class Period”).
Rocket is a fully integrated, late-stage biotechnology company focused on the development of gene therapies, with direct on-target mechanism of action and clear clinical endpoints, for rare and devastating diseases.
The claim arises on May 27, 2025, when Rocket announced that the FDA placed a clinical hold on the RP-A501 Phase 2 pivotal study after at least one patient suffered a Serious Adverse Event (SAE), ultimately, death, while enrolled in the study following a substantive amendment to the protocol that the Company failed to disclose to investors at the time management made the revision.
The complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of RP-A501’s safety and clinical trial protocol; notably, that Rocket knew Serious Adverse Events (SAEs), including death of participants enrolled in the study, were a risk. In particular, Rocket amended the trial’s protocol to introduce a novel immunomodulatory agent to the pretreatment regimen without providing this critical update to shareholders. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Rocket’s securities at artificially inflated prices.
As a result, from a closing market price of $6.27 per share on May 23, 2025, Rocket’s stock price fell to $2.33 per share on May 27, 2025, a decline of about 37% in the span of just a single trading day.
If you purchased Rocket common stock during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.