INVESTOR ALERT: Class Action Lawsuit Against Provectus Biopharmaceuticals, Inc. Announced by Glancy Binkow & Goldberg LLP
LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Middle District of Tennessee on behalf of a class (the “Class”) comprising all purchasers of the securities of Provectus Biopharmaceuticals, Inc. (“Provectus” or the “Company”) (NYSE:PVCT) between December 17, 2013 and May 22, 2014, inclusive (the “Class Period”).
“the data upon which the Company based its request for designation of PV-10 as a Breakthrough Therapy for the treatment of patients with locally advanced cutaneous melanoma was insufficient to demonstrate substantial improvement over existing therapies.”
Please contact us at (646) 539-8980, or at email@example.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
Provectus is a development-stage biopharmaceutical company engaged in developing pharmaceuticals for oncology and dermatology indications. The Company’s product line includes PV-10, which has completed a Phase II study for metastatic melanoma and a Phase I study for breast cancer, and is in various stages of clinical development for certain other cancer indications. The Complaint alleges that defendants misrepresented and/or failed to disclose material adverse facts concerning the status of PV-10 and preparations for a Phase III study of the drug.
On May 23, 2014, the Company announced that its application for a designation of PV-10 as “Breakthrough Therapy” was denied by the Food and Drug Administration. According to the Company, the FDA denied the designation because the agency’s review indicated that “the data upon which the Company based its request for designation of PV-10 as a Breakthrough Therapy for the treatment of patients with locally advanced cutaneous melanoma was insufficient to demonstrate substantial improvement over existing therapies.”
If you are a member of the Class described above, you may move the Court no later than July 28, 2014, to serve 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 have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (646) 539-8980, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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