NEW YORK, Feb. 04, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Miromatrix Medical Inc. (“Miromatrix” or the “Company”) MIRO. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

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

[Click here for information about joining the class action]

After the market closed on December 14, 2022, Miromatrix issued a press release announcing that the U.S. Food & Drug Administration (“FDA”) had clinically reviewed the Company’s investigational new drug application for its product Miroliver laid iceELAP the treatment of acute liver failure. The press release also provided that the FDA would provide Miromatrix with an official clinical hold letter within 30 days.

As a result of this news, Miromatrix’s share price fell $1.24 per share, or 30.24%, to close at $2.86 per share on December 15, 2022.

Then, on February 1, 2022, Miromatrix issued a press release announcing that “[i]In January 2023, Miromatrix received the formal clinical hold letter from the FDA detailing the specific issues that need to be addressed in the IND filing and the information needed to resolve them. In the letter, the FDA requested additional nonclinical and clinical information. The information provided by the FDA also provides valuable insights related to specific chemistry, manufacturing and control (CMC) issues and clinical protocols unrelated to clinical storage.”

As a result of this news, Miromatrix’s share price fell $0.36 per share, or 10.32%, to close at $3.13 per share on February 1, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of Class Action…