SAN FRANCISCO, Feb. 12, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP reminds investors in Alkermes Public Limited Company (NASDAQ: ALKS) of the pending securities fraud class action and the February 25, 2019 Lead Plaintiff deadline. If you purchased or otherwise acquired ALKS securities between February 17, 2017 and November 1, 2018 (the "class period") and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
The complaint alleges Defendants knew, throughout the class period, that the U.S Food and Drug Administration disagreed with Alkermes' clinical trial methodologies in connection with a New Drug Application ("NDA") for approval of a drug (ALKS 5461) intended to treat Major Depressive Disorder.
On November 1, 2018, Defendants announced the FDA advisory committee voted 21 to 2 against the approval of ALKS 5461. Separately, the press reported Alkermes did not follow the FDA's previously-expressed guidance for the NDA.
This news drove the price of Alkermes shares down $3.09, or over 7.5% to close at $37.74 on November 2, 2018.
Most recently, on February 1, 2019, the Company and senior management announced the FDA informed them that it would not approve the ALKS 5461 NDA and requested additional clinical data to provide substantial evidence of the drug's effectiveness.
"Right now, our focus is on investors' losses and the extent to which Defendants may have misled them," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Alkermes should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ALKS@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP