BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Antares Pharma, Inc. (“Antares” or the “Company”) (NASDAQ: ATRS) securities between December 21, 2016, and October 12, 2017, inclusive (the “Class Period”). Antares investors have until December 22, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Antares investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On October 11, 2017 Antares received a letter from the U.S. Food and Drug Administration (FDA) stating that the agency had “identified deficiencies that preclude the continuation of the discussion of labeling and post marketing requirements/commitments” for its product candidate Xyosted. On this news, the Company's share price fell $1.41, or 37.80%, to close at $2.32 on October 13, 2017, thereby injuring investors.
Then on October 20, 2017, Antares announced receipt of a Complete Response Letter from the FDA regarding the New Drug Application for Xyosted. The Company stated that the FDA could not approve the NDA in its present form due to concerns that Xyosted “could cause a clinically meaningful increase in blood pressure” and also noted the FDA’s concerns “regarding the occurrence of depression and suicidality.”
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) Antares had provided insufficient data to the FDA in connection with its NDA for Xyosted; (ii) accordingly, Antares had overstated the approval prospects for Xyosted; and (iii) as a result of the foregoing, Antares' public statements were materially false and misleading at all relevant times.
If you purchased shares of Antares, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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