Law Firm of Wohl & Fruchter LLP Announces Investigation of Vanda Pharmaceuticals, Inc.
20 6월 2013 - 1:43AM
Business Wire
The law firm of Wohl & Fruchter LLP announces that it is
investigating possible violations of federal securities laws by
officers and directors of Vanda Pharmaceuticals, Inc. (Vanda)
(NASDAQ: VNDA).
Vanda is a biopharmaceutical company that engages in the
development and commercialization of products for the treatment of
central nervous system disorders. One of its drugs in clinical
development, Tasimelteon, has completed two Phase III clinical
trials for the treatment of circadian rhythm sleep disorders.
On May 31, 2013, Vanda announced the submission of a New Drug
Application (NDA) to the U.S. Food and Drug Administration (FDA)
for Tasimelteon. The NDA seeks FDA approval of Tasimelteon for the
treatment of Non-24-Hour Disorder (Non-24), a sleep disorder that
affects the totally blind, based on the results of Vanda’s Phase
III trials of the drug.
On June 19, 2013, an article appeared on theStreet.com claiming
that a detailed analysis of Vanda’s Phase III trials reveals a
large number of irregularities and red flags. Among other issues,
the article cites multiple changes in the primary endpoint over the
course of the trials, including a change just one month before
study results were announced to a new primary endpoint that has
allegedly never been used before in sleep-drug clinical trials, and
that was not endorsed by the FDA. The article also states that
Vanda was forced to cut patient enrollment in the clinical trials
in half because an insufficient number of totally blind patients
with Non-24 could not be identified, and that ultimately less than
5% of the patients enrolled in the trials suffered from Non-24
according to the "textbook definition" of the disease.
Following publication of the Street.com article, VNDA dropped
over 24% from a close of $10.92/share on June 18, 2013, to
$8.28/share shortly after noon during trading on June 18, 2013.
Additional information is available on our website at:
http://www.wohlfruchter.com/cases/vnda.
Persons with relevant information, and VNDA shareholders with
questions about this investigation, are invited to contact the
attorney below, or our Firm by calling 866.582.8140.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation
arising from fraud and other fiduciary breaches by corporate
managers, as well as other complex litigation matters. Please visit
our website, www.wohlfruchter.com, to learn more about our Firm, or
contact one of our partners.
Contact:
J. Elazar Fruchter (jfruchter@wohlfruchter.com)845.425.4658 or
Toll Free 866.582.8140Wohl & Fruchter LLP570 Lexington
AvenueNew York, NY 10022www.wohlfruchter.com
This release may be deemed to constitute attorney
advertising.
Wohl & Fruchter LLPJ. Elazar Fruchter845.425.4658 or Toll
Free 866.582.8140jfruchter@wohlfruchter.com
Vanda Pharmaceuticals (NASDAQ:VNDA)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Vanda Pharmaceuticals (NASDAQ:VNDA)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
