ANAPTYSBIO, INC. CLASS ACTION Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for Southern District of California against AnaptysBio, Inc.
UPCOMING LEAD PLAINTIFF DEADLINE IS MAY 26, 2020
NEW YORK and SAN DIEGO, April 7, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in United States District Court for Southern District of California on behalf of investors who purchased AnaptysBio, Inc. ("AnaptysBio" or the Company") (NASDAQ: ANAB) securities between October 10, 2017 and November 7, 2019, inclusive (the "Class Period").
All investors who purchased shares of AnaptysBio, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of AnaptysBio, Inc., you may, no later than May 26, 2020, request that the Court appoint you lead plaintiff of the proposed class.
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On March 26, 2018, AnaptysBio revealed data from an interim analysis of a Phase 2a trial for etokimab in adult patients with peanut allergies. Though the Company reported improvement among patients who received a single dose of etokimab compared to patients dosed with a placebo, later that day, an analyst from RBC Capital Markets issued a report that questioned the accuracy of that data.
On this news, the Company's share price fell $6.31 per share, or over 5%, to close at $107.52 per share on March 27, 2018.
Then on June 21, 2019, an analyst from Credit Suisse issued a report questioning the accuracy of the Company's Phase 2a atopic dermatitis data, concluding that due to lack of critical details provided by the Company as well as the study's small sample size, "we must consider the possibility that the presence of rescue medications could have influenced the trial's response rates" and "we are now less certain about etokimab's efficacy profile." Thus, Credit Suisse downgraded AnaptysBio stock to neutral from outperform and slashed its price target to $79 from $137.
On this news, the Company's share price fell $7.78 per share, or over 11%, to close at $59.24 per share on June 21, 2019.
Finally, on November 8, 2019, the Company announced "very disappoint[ing]" data from its ATLAS trial, a Phase 2b multi-dose study which evaluated the efficacy of etokimab in patients with moderate-to-severe atopic dermatitis. Specifically, AnaptysBio disclosed that each of the etokimab dosing arms "failed to meet the primary endpoint of the trial" and revealed that, as a result of this data, it had postponed the initiation of its Phase 2b etokimab clinical trial in asthma.
On this news, the Company's share price fell $25.98 per share, or over 71%, to
close at $10.18 per share on November 8, 2019.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
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