LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the December 22, 2017 deadline to file a lead plaintiff motion in the class action 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. To obtain information or participate in the class action, please visit the Antares case page on our website at www.glancylaw.com/case/antares-pharma-inc.
Investors suffering losses on their Antares 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 email@example.com.
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.
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If you purchased shares of Antares during the Class Period you may move the Court no later than December 22, 2017 to ask the Court to appoint you as lead. 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 firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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