The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) securities between May 11, 2015 and November 8, 2016.
According to the complaint, during the Class Period, Arrowhead made false and misleading statements and/or failed to disclose that: (1) its drug candidate ARC-520 was fatal at certain doses; (2) the U.S. Food & Drug Administration was unlikely to approve ARC-520 as a hepatitis B treatment; (3) the Company overstated the approval prospects and commercial viability of ARC-520; and (4) as a result of the above, Arrowhead’s public statements were materially false and misleading at all relevant times.
On November 8, 2016, after the close of the market, Arrowhead Pharmaceuticals announced that the United States Food & Drug Administration had decided to place a clinical hold on the Company’s Heparc-2004 clinical study of ARC-520. According to the company, the hold stems from deaths at the highest dose of an ongoing non-human primate toxicology study.
If you suffered a loss in Arrowhead you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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