BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Mallinckrodt plc (“Mallinckrodt” or the “Company”) (NYSE: MNK) investors concerning the Company and its officers’ possible violations of federal securities laws.
On July 16, 2019, post-market, Mallinckrodt revealed that the Company “is permanently discontinuing its Phase 2B study designed to assess the efficacy and safety of Acthar® Gel (repository corticotropin injection) as an investigational treatment for amyotrophic lateral sclerosis (ALS).” Mallinckrodt stated that it decided “to halt the trial after careful consideration of a recent recommendation by the study’s independent Data and Safety Monitoring Board (DSMB)”. This “was based on the specific concern for pneumonia, which occurred at a higher rate in the ALS patients receiving Acthar Gel compared to those on placebo,” and “other adverse events specific to this patient population.”
On this news, Mallinckrodt’s stock price fell $0.64 per share, or nearly 8%, to close at $7.56 per share on July 17, 2019, thereby injuring investors.
If you purchased Mallinckrodt securities, 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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