NEW YORK, May 16, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Aduro BioTech, Inc. ("Aduro" or the "Company") (NASDAQ: ADRO). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Aduro and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 16, 2016, pre-market, the Company announced that its pancreatic cancer drug missed the primary endpoint in a Phase 2b clinical trial. The therapy being tested was CRS-207 both alone and in combination with GVAX Pancreas and was intended for patients with the cancer who had unsuccessfully undergone two prior metastatic therapies. Aduro's chairman, Stephen Isaacs, called the findings "unexpected" given "the divergence of these data from the results of our Phase 2a study." The Company said the therapies are also being tested in an ongoing trial as a second-line treatment for patients with metastatic pancreatic cancer.
On this news, the Company's stock has fallen as much as $3.43, or 32%, to a low of $7.26 during intraday trading on May 16, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP