PR Newswire | Jul 21, 2020 07:27PM EDT

Investors of Pieris Pharmaceuticals, Inc. - PIRS

07/21 18:27 CDT

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Pieris Pharmaceuticals, Inc. - PIRS NEW YORK, July 21, 2020

NEW YORK, July 21, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors Pieris Pharmaceuticals, Inc. ("Pieris" or the "Company") (NASDAQ: PIRS). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Pieris and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On July 20, 2020, Pieris announced that the U.S. Food and Drug Administration ("FDA" or the "Agency") had placed a partial clinical hold on the Company's Phase 1 studies of its PRS-343 product "while Pieris conducts an additional in-use and compatibility study requested by the Agency." Pieris specifically stated that "[t]he partial hold follows discussions with FDA regarding the Company's in-use study supporting the technical setup for clinical administration of PRS-343" and that the "FDA has requested that Pieris conduct an additional in-use and compatibility study of PRS-343 with various infusion materials under specific conditions to confirm the suitability of PRS-343 for administration in clinical settings." On this news, Pieris's stock price fell sharply during intraday trading on July 21, 2010, damaging investors.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLP rswilloughby@pomlaw.com

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SOURCE Pomerantz LLP