We are investigating Pieris Pharmaceuticals, Inc. (PIRS) (“Pieris” or the “Company”) for potential violations of the federal securities laws. On July 20, 2020, Pieris announced that the U.S. Food and Drug Administration (“FDA” or the “Agency”) had placed a partial clinical hold on the Company’s Phase 1 studies of its PRS-343 product “while Pieris conducts an additional in-use and compatibility study requested by the Agency.” Pieris specifically stated that “[t]he partial hold follows discussions with FDA regarding the Company's in-use study supporting the technical setup for clinical administration of PRS-343” and that the “FDA has requested that Pieris conduct an additional in-use and compatibility study of PRS-343 with various infusion materials under specific conditions to confirm suitability of PRS-343 for administration in clinical settings.” On this news, Pieris’s stock price fell sharply during intraday trading on July 21, 2010, damaging investors.