LOS ANGELES–(BUSINESS WIRE)–$ANAB #fraud—Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of AnaptysBio, Inc. (“AnaptysBio” or the Company”) (NASDAQ: ANAB) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your AnaptysBio investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email email@example.com or visit our website at www.glancylaw.com to learn more about your rights.
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, thereby injuring investors.
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, thereby injuring investors further.
Whistleblower Notice: Persons with non-public information regarding AnaptysBio should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the 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 Charles H. Linehan at 310-201-9150 or 888-773-9224 or email firstname.lastname@example.org.
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