NEW YORK, NY / ACCESSWIRE / April 28, 2021 / Labaton Sucharow, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Athenex, Inc. ("Athenex" or "the Company") (NASDAQ:ATNX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between August 7, 2019 and February 26, 2021, inclusive (the ''Class Period''), are encouraged to contact the litigation partner assigned to the matter, David J. Schwartz via email at [email protected] or using the toll-free number (800) 321-0476.
According to the Complaint, the Company made false and misleading statements to the market. Athenex announced on March 1, 2021, that the FDA had issued a complete response letter ("CRL") for the company's New Drug Application ("NDA") for oral paclitaxel plus encequidar for the treatment of metastatic breast cancer. The FDA's CRL cited patient safety risks and uncertainty related to primary endpoint results for the objective response rate ("ORR") which may have introduced bias in the blinded clinical review. The FDA recommended the Company "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. Based on this news, shares of Athenex fell by 55% in one day.
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About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.
Contact:
David J. Schwartz
(800) 321-0476
[email protected]
SOURCE: Labaton Sucharow LLP