NEW YORK, Jan. 10, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Aradigm Corporation ("Aradigm" or the "Company") (NASDAQ: ARDM). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Aradigm and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 9, 2018, the U.S. Food and Drug Administration ("FDA") released its briefing document for the January 11, 2018 meeting of the Antimicrobial Drugs Advisory Committee to discuss Aradigm's New Drug Application for Linhaliq™ for the proposed indication of treatment of non-cystic fibrosis bronchiectasis ("NCFB"). The FDA briefing document stated that "[t]he Agency recommended that two adequate and well-controlled clinical trials be conducted to support the NCFB indication because," among other things, "there were too many uncertainties with regard to duration of treatment, frequency of administration and endpoints to allow for reliance on a single Phase 3 trial," and "the conduct of two independent trials would be important in providing replicative evidence supporting an overall demonstration of efficacy and safety."
On this news, Aradigm's share price fell $2.28, or 38.13%, to close at $3.70 on January 9, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, 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
SOURCE Pomerantz LLP