Frequency Therapeutics, Inc.
(NASDAQ GS: FREQ)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Frequency Therapeutics, Inc. ("Frequency") on behalf of stockholders. A class action complaint has been filed against Frequency. The complaint alleges that, shortly after launching its Phase 2a trial of FX-322, Frequency and its CEO learned that the Phase 2a trial results revealed no discernible difference between FX-322 and the placebo. Defendants painted a rosy picture of Phase 2a despite knowing that the study was biased and thus unlikely to deliver results that could support the efficacy of FX-322 as a treatment for SNHL. Defendants' statements were materially false, misleading, incomplete, and inaccurate because they conveyed that: (i) every subject in Phase 2a has to have a deficit in word recognition within a certain range in order to qualify for the study; and (ii) the amount of that deficit was not disclosed. In reality, as defendants knew or recklessly disregarded, Phase 2a enrolled patients that did not actually meet the study's inclusion criteria.