An investor, who purchased NASDAQ:ARWR shares, filed a lawsuit against Arrowhead Pharmaceuticals Inc over alleged Securities Laws violations.
Investors who purchased shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2017. NASDAQ:ARWR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) common shares between May 11, 2015 and November 8, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 11, 2015 and November 8, 2016 the defendants made false and/or misleading statements and/or failed to disclose that ARC-520 was fatal at certain doses, that consequently, the U.S. Food & Drug Administration (“FDA”) was unlikely to approve ARC-520 as a hepatitis B treatment, that Arrowhead had overstated the approval prospects and commercial viability of ARC-520, and that as a result, Arrowhead’s public statements were materially false and misleading at all relevant times.
Arrowhead Pharmaceuticals Inc formerly Arrowhead Research Corporation, is a biopharmaceutical company. Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) grew from $3.18 per share in February 2016 to as high as $8.08 per share in August 2016.
On November 8, 2016, Arrowhead Pharmaceuticals Inc provided an update on its Heparc-2004 clinical study of ARC-520, its therapeutic candidate under clinical investigation for the treatment of chronic hepatitis B virus (HBV) infection. Arrowhead Pharmaceuticals Inc said that it was notified verbally by the United States Food & Drug Administration (“FDA”) of its decision to place a clinical hold on Heparc-2004. According to the company, the hold stems from deaths at the highest dose of an ongoing non-human primate toxicology study; these deaths are currently under investigation.
Shares of Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) declined from $6.18 per share on November 8, 2016 to as low as $4.09 per share on November 10, 2016.
On November 25, 2016, NASDAQ:ARWR shares closed at $4.67 per share.
Those who purchased NASDAQ:ARWR shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com