|[October 23, 2013]
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Osiris Therapeutics, Inc.
BENSALEM, Pa. --(Business Wire)--
Law Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of Osiris Therapeutics, Inc.
("Osiris" or the "Company") (NASDAQ:OSIR) concerning possible violations
of federal securities laws. The investigation focuses on certain
statements issued by Osiris concerning the Company's operations and
Osiris is a stem cell company engaged in the development and marketing
of therapeutic products to treat medical conditions in the inflammatory,
cardiovascular, orthopedic and wound-care markets. The investigation is
related to the Company's October 21, 2013, disclosure that, in a letter
to Osiris dated September 26, 2013, the Food and Drug Administration
raised several regulatory concerns regardig certain of the Company's
human cell and tissue-based products, including the Company's Ovation™
and Grafix® wound repair products. In a Company-issued press release,
Osiris stated that it intends to submit a Biologics License Application
for Grafix, as a result of the FDA's determination that the product is a
drug, which requires additional regulatory filings and a valid biologics
license to be in effect before it can be lawfully marketed. Following
this news, the price of Osiris shares dropped 17%, or $2.98 per share,
to a closing price of $14.51 per share on October 21, 2013.
If you purchased Osiris shares, if you have information or would like to
learn more about these claims, or if you 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 email@example.com,
or visit our website at www.howardsmithlaw.com.
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