NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Athenex, Inc. ("Athenex" or "the Company") (NASDAQ: ATNX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Athenex securities between August 7, 2019 and February 26, 2021, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/atnx.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts. Specifically the complaint alleges that on March 1, 2021, Athenex announced that the FDA had issued a complete response letter ("CRL") for its New Drug Application ("NDA") for oral paclitaxel plus encequidar for the treatment of metastatic breast cancer. The CRL cited patient safety risks and uncertainty related to primary endpoint results for the objective response rate ("ORR") which may have introduced bias in the blinded clinical review. The FDA advised Athenex to "conduct a new adequate and well-conducted clinical trial in a patient population with metastatic breast cancer representative of the population in the U.S," and indicated that the toxicity would require a risk mitigation strategy for the treatment to be approved. Following on this news, Athenex stock dropped roughly 55% in one day.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/atnx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Athenex you have until May 3, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.