SAN FRANCISCO, March 26, 2020 /PRNewswire/ -- Hagens Berman urges investors in AnaptysBio, Inc. (NASDAQ: ANAB) who have suffered significant losses to submit their losses now. A securities class action has been filed, and certain investors may have valuable claims.
AnaptysBio, Inc. (ANAB) Securities Class Action:
The complaint focuses on AnaptysBio's misrepresentations and concealments about the efficacy of the Company's lead drug asset, etokimab, a drug intended for various inflammatory diseases.
The complaint alleges that Defendants repeatedly described data from AnaptysBio's Phase 2a trial in peanut allergies as having remarkable and profound efficacy in its treatment of patients with atopic dermatitis. According to the complaint, Defendants provided investors with misleading clinical trial data that did not disclose key information and used questionable analysis to make the trial results regarding etokimab's efficacy and prospects appear far better than they were.
Investors began to learn the truth beginning on Mar. 26, 2018, according to the complaint, when an analyst from RBC Capital Markets questioned the veracity of data Defendants reported earlier that day. The analyst observed the response rate for etokimab for the full trial population "does not appear to be meaningfully differentiated" relative to placebo.
Then, according to the complaint, on June 21, 2019 an analyst from Credit Suisse issued a report questioning the reliability of the Company's Phase 2a atopic dermatitis trial data.
Finally, on Nov. 8, 2019, Defendants announced that each of the etokimab dosing arms in its Phase 2b multi-dose study did not demonstrate statistical efficacy compared to placebo.
In response, the price of AnaptysBio shares crashed 72% lower that day.
"We're focused on investors' losses and proving AnaptysBio misled investor about its lead drug candidate etokimab," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of AnaptysBio and suffered significant losses, http://www.hbsslaw.com/investor-fraud/ANAB.
Whistleblowers: Persons with non-public information regarding AnaptysBio should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
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Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP