San Francisco, Calif .– (Newsfile Corp. – May 2, 2021) – Hagens Berman urges Athenex, Inc. (NASDAQ: ATNX) investors with significant losses to file their losses now.
Teaching time: August 7, 2019 – February 26, 2021
Lead plaintiff deadline: May 3, 2021
Contact an attorney now: ATNX@hbsslaw.com
Class Action Lawsuit Against Securities Of Athenex, Inc. (NASDAQ: ATNX):
The complaint alleges that throughout the classroom, defendants made false statements and omissions about their flagship drug candidate, an oral paclitaxel and encequidar for the treatment of metastatic breast cancer.
In particular, Defendants have misrepresented and withheld the following: (i) The data contained in the Oral Paclitaxel plus Encequidar New Drug Application presented a patient safety risk; (ii) there was uncertainty about the results of the objective response rate (ORR) primary endpoint, which may have resulted in unmeasured bias and unmeasured impact on blinded independent centralized review (BICR); (iii) the company’s Phase 3 study did not include a representative population; and (iv) as a result, it was foreseeable that the FDA would not approve the Company’s NDA in its current form.
The market learned the truth on March 1, 2021 when Athenex announced it had received the FDA’s Full Response Letter (“CRL”) to the NDA for Oral Paclitaxel Plus Encequidar. In the CRL, the FDA cited patient safety risks in relation to an increase in neutropenia-related sequelae. The CRL also cited uncertainty about the outcome of the ORR primary endpoint at week 19, which may have resulted in an unmeasured bias and impact on the BICR. The FDA also recommended that “Athenex conduct a new adequate and well-performed clinical trial in a patient population with metastatic breast cancer representative of the US population”.
In the news, Athenex shares fell roughly 55% in one day.
“We’re focusing on investor losses and proving that Athenex has deliberately misled investors about its leading drug candidate,” said Reed Kathrein, the Hagens Berman partner who led the investigation.
The story goes on
If you are an Athenex investor and you are experiencing significant losses or have knowledge that may aid the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about Athenex should review their options to help with the investigation or use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. For more information, call Reed Kathrein at 844-916-0895 or send an email to ATNX@hbsslaw.com.
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About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities across the country and eighty attorneys. The firm represents investors, whistleblowers, employees and consumers in complex legal disputes. More information about the company and its achievements can be found at hbsslaw.com. For the latest news, visit our newsroom or follow us on Twitter @classactionlaw.
Reed Kathrein, 844-916-0895
The source version of this press release can be found at https://www.newsfilecorp.com/release/82603