BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Vical Incorporated (“Vical” or the “Company”) (VICL) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company between February 8, 2012 and August 9, 2013.
Vical is a biopharmaceutical company that researches and develops products based on patented DNA delivery technologies for the prevention and treatment of serious and life-threatening illnesses, including cancer. Vical’s lead product candidate for U.S. Food and Drug Administration marketing approval is Allovectin, an immunotherapy vaccine that targets cancer. The investigation is related to allegations that the Company misrepresented Allovectin’s efficacy and likelihood of success in the Phase 3 trial, and the overall current and future business prospects for Allovectin and the Company. On August 12, 2013, Vical announced the results of the Phase 3 Allovectin trial, which showed that the vaccine failed to show an improvement over chemotherapy, and since “Allovectin simply did not provide the expected benefits,” the Allovectin program would be terminated.
If you purchased Vical shares between February 8, 2012 and August 9, 2013, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
- Health Care Industry