Welcome

AnaptysBio Drug Trial Result Disclosures Draw Shareholder Suit

May 4, 2021, 8:15 PM

AnaptysBio Inc.'s leadership allegedly touted drug trial results without disclosing significant information that made the new product’s future look less rosy, shareholders allege in a new suit filed in a federal court in California.

The biotechnology company’s directors and officers “consistently” talked up “purportedly positive results” for etokimab, which was intended to treat atopic dermatitis and peanut allergy. But they didn’t reveal information learned from the trials that made the drug’s efficacy and prospects “appear far better than they were,” hurting the company when the truth became known, the complaint filed in the U.S. District Court for the Southern District ...

To read the full article log in.

Learn more about A Bloomberg Law subscription.