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SAN DIEGO--([ BUSINESS WIRE ])--Robbins Geller Rudman & Dowd LLP (aRobbins Gellera) ([ http://www.rgrdlaw.com/cases/chelsea/ ]) today announced that a class action has been commenced in the United States District Court for the Western District of North Carolina on behalf of purchasers of Chelsea Therapeutics International, Ltd. (aChelseaa) (NASDAQ:CHTP) common stock during the period between June 9, 2011 and February 17, 2012 (the aClass Perioda).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from April 4, 2012. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffas counsel, Darren Robbins of Robbins Geller at 800-449-4900 or 619-231-1058, or via e-mail at [ djr@rgrdlaw.com ]. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at [ http://www.rgrdlaw.com/cases/chelsea/ ]. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Chelsea and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Chelsea is a biopharmaceutical company that has been developing the drug Northera (aDroxidopaa) for use in treating neurogenic orthostatic hypotension (aNOHa) in patients with primary autonomic failure, including Parkinsonas disease.

The complaint alleges that during the Class Period, defendants issued material misstatements and omissions concerning the safety and efficacy of Droxidopa for patients with NOH. Specifically, defendants failed to disclose, among other things: (i) the results of the Phase III testing of Droxidopa for patients with NOH; (ii) the post-marketing events in Japan (where Droxidopa has been approved for the same indication since 1989); and (iii) the likelihood of FDA approval of Droxidopa for patients with NOH in light of the known adverse material facts concerning Droxidopa. These false and misleading statements resulted in the artificial inflation of the market price of Chelsea common stock during the Class Period.

On February 13, 2012, defendants announced the that FDA had provided Chelsea with a briefing document that the FDA staff had prepared for the February 23, 2012 Advisory Committee meeting and that it had raised questions concerning Droxidopaas risk-benefit analysis. On this disclosure, Chelsea stock dropped from $4.99 per share to $3.11 per share. Then, on February 21, 2012, the FDA publicly released the briefing document that had been provided to Chelsea on February 13, 2012. The FDA recommended that Droxidopa for patients with NOH not be approved for use in the United States, stating that Droxidopa had not demonstrated durable effectiveness in clinical trials and showed worrisome safety signals in test results and in post-marketing cases in Japan. As a result, on February 21, 2012, the market price of Chelsea common stock dropped again, closing at $2.64per share.

Plaintiff seeks to recover damages on behalf of all purchasers of Chelsea common stock during the Class Period (the aClassa). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site ([ http://www.rgrdlaw.com ]) has more information about the firm.