Class Action Lawsuit Filed Against AnaptysBio, Inc. On Behalf of Purchasers or Acquirers of ANAB Stock Between October 10, 2017 and November 7, 2019, Both Dates Inclusive – Kehoe Law Firm, P.C. Investigating Securities Claims on Behalf of AnaptysBio, Inc. Investors
Kehoe Law Firm, P.C. is making investors aware that a class action lawsuit was filed on March 25, 2020 in United States District Court, Southern District of California, against AnaptysBio, Inc. (“AnaptysBio” or the “Company”) (NasdaqGS: ANAB) on behalf of individuals or entities who purchased, or otherwise acquired, ANAB between October 10, 2017 and November 7, 2019, inclusive (the “Class Period”).
The securities class action was brought against AnaptysBio and certain of its current and former senior executives under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and SEC Rule 10b-5, promulgated thereunder.
On October 10, 2017, according to the complaint, AnaptysBio
. . . reported data from an interim analysis of its Phase 2a clinical trial of etokimab in atopic dermatitis. Specifically, the Company touted the ‘positive’ data as ‘provid[ing] a solid foundation for the continued development of [etokimab] across a number of atopic diseases.’ In addition, the Company described the drug’s efficacy as ‘very encourag[ing]’ and told investors that ‘we believe we can build on that with multidosing … in a Phase IIb study, we anticipate that we can get to even greater EASI scores.’
Throughout the Class Period, the Company touted the prospects of etokimab and the drug’s efficacy based on clinical trial data. In truth, however, the Company failed to disclose key information from the trials and used questionable analysis which made the trial results regarding etokimab’s efficacy and its prospects appear far better than they were. As a result of [the AnaptysBio] Defendants’ material misrepresentations and omissions, shares of AnaptysBio’s common stock traded at artificially inflated prices during the Class Period. [Emphasis added.]
The complaint alleges that AnaptysBio issued
. . . materially false and misleading and failed to disclose material adverse facts about the prospects of the Company’s lead drug asset. Specifically, Defendants willfully or recklessly made and/or caused the Company to make materially false and misleading statements to the investing public that failed to disclose important data from the Company’s Phase 2a trial in atopic dermatitis, including the timing and extent of patients’ use of topical corticosteroids as a rescue therapy during the study and whether any of the patients that utilized rescue therapy were classified as responders at a given time. As a result, Defendants’ positive statements about the efficacy and prospects of AnaptysBio’s lead drug asset in the treatment of atopic dermatitis were materially false and/or misleading and/or lacked a reasonable basis. [Emphasis added.]
AnaptysBio investors who purchased, or otherwise acquired, securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.