AVROBIO, Inc (AVRO)
AVRO Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Investigation of AVROBIO, Inc and Encourages Investors to Contact the Firm
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AVROBIO, Inc. (“AVROBIO” or the Company”) (NASDAQ: AVRO). The investigation concerns whether AVROBIO and certain of its officers and/or directors have violated federal securities laws.
On or around June 21, 2018, AVROBIO conducted its initial public offering (“IPO”), issuing 5,247,958 shares of common stock priced at $19.00 per share. Then, on March 16, 2020, AVROBIO issued a press release announcing the Company’s financial and operating results for the fourth quarter and fiscal year 2019. The Company reported a net loss of $22.7 million for the quarter, and a net loss of $73.0 million for the year, compared to a net loss of $16.0 million and a net loss of $46.4 million for the comparable periods in 2018. AVROBIO advised investors that “[t]hese increases were due to increased research and development expenses, as well as increased general and administrative expenses.” On this news, AVROBIO’s stock price fell $4.80 per share, or 32.26%, to close at $10.08 per share on March 16, 2020.
If you are aware of any facts relating to this investigation, or purchased AVROBIO shares, you can assist this investigation by contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.