Shareholder Alert: Robbins LLP Announces It Is Investigating AnaptysBio, Inc. (ANAB) for Misleading Shareholders
April 29 2020 - 7:26PM
Business Wire
Shareholder rights law firm Robbins LLP announces that it is
investigating AnaptysBio, Inc. (NASDAQ: ANAB) for alleged
violations of the Securities Exchange Act of 1934 and whether the
Company's officers and directors breached their fiduciary duties to
shareholders. AnaptysBio is a clinical stage biotechnology company
that engages in developing antibody product candidates focused on
unmet medical needs in inflammation. AnaptysBio's lead drug
candidate is etokimab, which treats various inflammatory
diseases.
If you suffered a loss as a result of AnaptysBio's misconduct,
click here.
AnaptysBio, Inc. (ANAB) Accused of Misleading
Shareholders
In October 2017, AnaptysBio touted "positive" data from its
phase 2a clinical trial of etokimab, stating that the drug's
efficacy was "very encourag[ing]." However, on March 26, 2018, RBC
Capital Markets issued a report questioning the veracity of
AnaptysBio's interim analysis of its Phase 2a trial. On April 4,
2018, RBC Capital Markets reduced its price target on the Company's
stock and highlighted "concern surrounding management credibility."
Then, on June 21, 2019, Credit Suisse also issued a report doubting
the veracity of the Company's Phase 2a atopic dermatitis data,
citing AnaptysBio's small sample size and failure to provide
critical details. Finally, on November 8, 2019, AnaptysBio
announced disappointing data from its Phase 2b study that revealed
that etokimab "failed to meet the primary endpoint of the trial."
On this news, several analysts downgraded the AnaptysBio's stock
and the Company's share price fell $25.98, a staggering 72%, to
close at $10.18 per share.
AnaptysBio, Inc. (ANAB) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20200429005972/en/
Leo Kandinov Robbins LLP lkandinov@robbinsllp.com (619) 525-3990
or Toll Free (800) 350-6003 www.robbinsllp.com
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