BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Chinook Therapeutics, Inc. (“Chinook” or the “Company”) (NASDAQ: KDNY) investors concerning the Company’s possible violations of federal securities laws.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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