NEW YORK, Nov. 08, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Antares Pharma, Inc. ("Antares" or the "Company") ATRS in the United States District Court for the District of New Jersey on behalf of a class consisting of investors who purchased or otherwise acquired Antares securities on from December 21, 2016 through October 12, 2017, inclusive (the "Class Period").
Investors who have incurred losses in Antares Pharma, Inc. securities are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of Antares Pharma, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than December 22 , 2017, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as a shareholder of Antares Pharma, Inc.
The filed Complaint alleges that Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
- Antares had provided insufficient data to the United States Food and Drug Administration (FDA) in connection with its New Drug Application (NDA) for Xyosted; and
- accordingly, Antares had overstated the approval prospects for Xyosted; and
- as a result of the foregoing, Antares' public statements were materially false and misleading at all relevant times.
On October 12, 2017, after the close of trading, Antares disclosed that on October 11, 2017, the Company received a letter from FDA stating that the agency had "identified deficiencies that preclude the continuation of the discussion of labeling and post marketing requirements/commitments" for Xyosted.
On this news, the Company's share price fell $1.41, or 37.80%, to close at $2.32 on October 13, 2017.
Subsequently, on October 20, 2017, post-market, Antares announced receipt of a Complete Response Letter ("CRL") from the FDA regarding the NDA for Xyosted, "indicat[ing] that the FDA cannot approve the NDA in its present form." The Company stated in part that "the FDA is concerned that XYOSTED could cause a clinically meaningful increase in blood pressure" and also "raised a concern regarding the occurrence of depression and suicidality."
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
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