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Investors with a $150,000 or more in losses are encouraged to contact the firm before May 3, 2021; click here to submit trade information
LOS ANGELES, April 28, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Athenex, Inc. (NASDAQ: ATNX) investors that acquired shares between August 7, 2019 and February 26, 2021. Investors have until May 3, 2021 to seek an active role in this litigation.
It is alleged in this complaint that Athenex made misleading and false statements to the market. On March 1, 2021, Athenex announced that the FDA had issued a complete response letter for their New Drug Application for oral paclitaxel plus encequidar for the treatment of metastatic breast cancer. The FDA's CRL cited patient safety risks, as well as uncertainty in relation to primary endpoint results for the objective response rate ("ORR") which may have introduced bias in the blinded clinical review. It was recommended by the FDA that Athenex "conduct a new adequate and well-conducted clinical trial in a patient population with metastatic breast cancer representative of the population in the U.S." The FDA also indicated that the toxicity would require a risk mitigation strategy for the treatment to be approved. Shares of Athenex fell by 55% in one day based on this news.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar