NEW YORK, NY / ACCESSWIRE / November 30, 2016 / The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Arrowhead Pharmaceuticals, Inc. ("Arrowhead") (NASDAQ: ARWR) between May 11, 2015 and November 8, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. To get more information go to: http://www.zlk.com/pslra/arrowhead-pharmaceuticals or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period, Arrowhead made false and misleading statements and/or failed to disclose that: (1) its drug candidate ARC-520 was fatal at certain doses; (2) the U.S. Food & Drug Administration was unlikely to approve ARC-520 as a hepatitis B treatment; (3) the Company overstated the approval prospects and commercial viability of ARC-520; and (4) as a result of the above, Arrowhead's public statements were materially false and misleading at all relevant times.
On November 8, 2016, after the close of the market, Arrowhead Pharmaceuticals announced that the United States Food & Drug Administration had decided to place a clinical hold on the Company's Heparc-2004 clinical study of ARC-520. According to the company, the hold stems from deaths at the highest dose of an ongoing non-human primate toxicology study.
If you suffered a loss in Arrowhead, you have until January 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
ReleaseID: 450039
