Cases
Arrowhead Pharmaceuticals, Inc. (NASDAQ : ARWR)
Securities Class Action
Overview
Overview
- Date:
- 11/16/2016
- Company Name:
- Arrowhead Pharmaceuticals, Inc.
- Stock Symbol:
- ARWR
- Class Period:
- FROM 5/11/2015 TO 11/29/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Central California
NEW YORK, November 16, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Central District Court on behalf of all persons or entities who acquired the Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) securities between May 11, 2015 to November 8, 2016 (the “Class Period”).
Arrowhead is a biopharmaceutical company that develops novel drugs to treat intractable diseases in the United States. Among the Company’s products under development at all relevant times was ARC-520, an RNAi-based therapeutic in Phase IIb clinical efficacy studies to treat chronic hepatitis B virus infection.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) ARC-520 was fatal at certain doses; (ii) consequently, the U.S. Food & Drug Administration (“FDA”) was unlikely to approve ARC-520 as a hepatitis B treatment; (iii) Arrowhead had overstated the approval prospects and commercial viability of ARC-520; and (iv) as a result, Arrowhead’s public statements were materially false and misleading at all relevant times.
On November 8, 2016, post-market, Arrowhead issued a press release announcing that the FDA would be placing a clinical hold on the Company’s Heparc-2004 clinical study of ARC-520, likely due to deaths at the highest dose of an ongoing non-human primate toxicology study.
On this news, Arrowhead’s share price fell $1.91, or 31.26%, to close at $4.20 on November 9, 2016.
If you acquired Arrowhead securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
Arrowhead is a biopharmaceutical company that develops novel drugs to treat intractable diseases in the United States. Among the Company’s products under development at all relevant times was ARC-520, an RNAi-based therapeutic in Phase IIb clinical efficacy studies to treat chronic hepatitis B virus infection.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) ARC-520 was fatal at certain doses; (ii) consequently, the U.S. Food & Drug Administration (“FDA”) was unlikely to approve ARC-520 as a hepatitis B treatment; (iii) Arrowhead had overstated the approval prospects and commercial viability of ARC-520; and (iv) as a result, Arrowhead’s public statements were materially false and misleading at all relevant times.
On November 8, 2016, post-market, Arrowhead issued a press release announcing that the FDA would be placing a clinical hold on the Company’s Heparc-2004 clinical study of ARC-520, likely due to deaths at the highest dose of an ongoing non-human primate toxicology study.
On this news, Arrowhead’s share price fell $1.91, or 31.26%, to close at $4.20 on November 9, 2016.
If you acquired Arrowhead securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.