Market Overview

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Aradigm Corporation Investors (ARDM)


Prongay & Murray LLP
("GPM") announces that a class action
lawsuit has been filed on behalf of investors that purchased Aradigm
Corporation ("Aradigm" or the "Company") (NASDAQ: ARDM)
securities between July 27, 2017 and January 8, 2018, inclusive
(the "Class Period"). Aradigm investors have until March 12,
to file a lead plaintiff motion. To obtain information or
actively participate in the class action, please visit the Aradigm page
on our website at

Investors suffering losses on their Aradigm investments are encouraged
to contact Lesley Portnoy of GPM to discuss their legal rights in this
class action at 310-201-9150 or by email to

On January 9, 2018, the U.S. Food and Drug Administration ("FDA")
released its briefing document for the January 11, 2018 meeting of the
Antimicrobial Drugs Advisory Committee to discuss the New Drug
Application for Linhaliq™ for the proposed indication of treatment of
non-cystic fibrosis bronchiectasis ("NCFB"). The FDA stated that "there
were too many uncertainties with regard to duration of treatment,
frequency of administration and endpoints to allow for reliance on a
single Phase 3 trial" of the drug, and that the FDA recommended Aradigm
conduct "two independent trials" to provide evidence supporting the
drug's "overall demonstration of efficacy and safety." On this news,
Aradigm's share price fell $2.28, or 38.12%, to close at $3.70 per share
on January 9, 2018.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and misleading statements
regarding the Company's business, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements and/or
failed to disclose that: (i) the methodology underlying Aradigm's
Linhaliq Phase III clinical trials was not well tailored to yield
consistent efficacy findings or to provide data sufficient to account
for discordant efficacy findings; (ii) the endpoint of the Phase III
trials - namely, delaying the time to first exacerbation on study
therapy compared to placebo over approximately one year of observation -
was unlikely to demonstrate a clinically meaningful benefit with respect
to a patient population that would likely be taking the drug for a
longer duration; (iii) accordingly, these studies were unlikely to
support FDA approval of the Linhaliq NDA; and (iv) as a result,
Aradigm's public statements were materially false and misleading at all
relevant times.

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If you purchased shares of Aradigm during the Class Period you may move
the Court no later than March 12, 2018 to ask the Court to
appoint you as lead plaintiff if you meet certain legal requirements. To
be a member of the Class you need not take any action at this time; you
may retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to,
or visit our website at
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

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