LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Chinook Therapeutics, Inc. (“Chinook” or the “Company”) (NASDAQ: KDNY) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On May 16, 2023, Muddy Waters Research published a report alleging that Chinook’s lead product candidate, atrasentan, “has been shown to be harmful to patients’ cardiovascular health,” and that “AbbVie and Chinook seem to have systemically manipulated research findings and presentation on atrasentan to obscure these trial results.”
On this news, Chinook’s stock price fell $1.64 per share, or 7%, to close at $21.76 per share on March 16, 2023, thereby injuring investors.
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If you purchased Chinook securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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