LOS ANGELES--(BUSINESS WIRE)--Glancy, Prongay & Murray LLP announces that it is investigating potential claims on behalf of investors of Avalanche Biotechnologies, Inc. (NASDAQ: AAVL) (“Avalanche” or “the Company”). The investigation focuses on whether the Company and its officers violated securities laws, by misleading investors regarding the strength of its Phase 2 clinical trials, and hid the fact that the trial was not designed to show statistically significant differences between the control and active groups.
On June 15, 2015, Avalanche reported that the company's treatment for wet age-related macular degeneration met its primary endpoint. In a conference call, after the close of trading on June 15, 2015, however, the Company indicated that the study wasn't designed to show statistically significant differences between active and control groups. On this news, shares of Avalanche fell $21.88 per share, or 56%, to close on June 16, 2015 at $17.05 per share.
If you purchased Avalanche shares, if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of Glancy, Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, 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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