NEW YORK, March 5, 2021 (GLOBE NEWSWIRE) – Scott + Scott Lawyers LLP (“Scott + Scott”), an international law firm specializing in shareholder and consumer rights, announces the filing of a class action lawsuit against Athenex, Inc. (“Athenex” or the “Company”) (NASDAQ: ATNX) and some of its officers alleging violations of federal securities laws. If you purchased Athenex common stock between August 7, 2019 and February 26, 2021 (including the “Class Period”) and suffered a loss, please contact Attorney Joe Pettigrew for more information at (844) 818- 6982 or [email protected].
Athenex is a “global clinical stage biopharmaceutical company committed to becoming a leader in the discovery, development and commercialization of next generation drugs”. One of Athenex’s key drug candidates is Oral Paclitaxel and Encequidar for the treatment of metastatic breast cancer.
The lawsuit alleges, among other things, that the company made materially false and / or misleading statements by failing to disclose to the Federal Drug Administration (“FDA”) that its drug was in its New Drug Application (“NDA”) pose a safety risk to patients; that the effectiveness of his medicine has been questioned; that the company’s testing and review processes were both flawed and created unmeasured prejudice and influence; and that, as a result, it was foreseeable that the FDA would not approve the NDA. The lawsuit also alleges that the company made misleading statements announcing the effectiveness of its drug, its close communication with the FDA throughout the drug development process, and the impending achievement of its commercial goals for the drug.
On March 1, 2021, the company announced that the FDA had issued a full response letter for the drug stating that it had recommended Athenex to conduct a new appropriate and well-conducted clinical trial.
In this news, Athenex shares fell from a closing price of $ 21.10 per share on February 26, 2021 to a closing price of just $ 5.46 on March 1, 2021, a one-day decline of nearly 55%.
What you can do
If you bought Athenex common stock between August 7, 2019 and February 26, 2021If you have any questions about this notice or your statutory rights, please contact Attorney Joe Pettigrew at (844) 818-6982 or [email protected] The deadline for the lead plaintiff is May 3, 2021.
About Scott + Scott Lawyers LLP
Scott + Scott has extensive experience pursuing key securities, antitrust, and retirement plan actions in the United States. The company represents pension funds, foundations, individuals and other companies worldwide with offices in New York, London, Connecticut, California and Ohio.
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