July 29, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Tobira Therapeutics Inc (NASDAQ:TBRA) shares over potential securities laws violations by Tobira Therapeutics and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Tobira Therapeutics Inc (NASDAQ:TBRA) concerning whether a series of statements by Tobira Therapeutics regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On July 25, 2016, Tobira Therapeutics Inc announced results from CENTAUR, its Phase 2b clinical trial evaluating the efficacy and safety of cenicriviroc (CVC) for the treatment of NASH in 289 adults with liver fibrosis. Tobira Therapeutics Inc said that although the study did not meet its primary endpoint of a two-point reduction in the NAFLD Activity Score, CENTAUR did demonstrate a clinically and statistically significant improvement in fibrosis of at least one stage without worsening of NASH, one of two key secondary endpoints, after only one year of treatment.

Shares of Tobira Therapeutics Inc (NASDAQ:TBRA) declined from $11.67 per share on July 22, 2016, to as low as $4.00 per share on July 27, 2016.