Navigation Links
The Law Offices of Marc S. Henzel Announces Class Action Lawsuit Against Aveo Pharmaceuticals, Inc. and Certain Officers -- (Nasdaq: AVEO) was filed on behalf of stockholders
Date:5/14/2013

MERION STATION, Pa., May 14, 2013 /PRNewswire/ -- The Law Offices of Marc S. Henzel announces that a class action lawsuit against Aveo Pharmaceuticals, Inc. ("Aveo" or the "Company") (Nasdaq: AVEO) and certain of its officers was filed in United States District Court, District of Massachusetts, on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Aveo between January 3, 2012 and May 1, 2013, both dates inclusive (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

If you are a shareholder who purchased Aveo securities during the Class Period, you have until July 8, 2013 to ask the Court to appoint you as Lead Plaintiff for the class. To discuss the action, please contact Marc S. Henzel (610) 660-8000, Mhenzel@Henzellaw.com, or to sign up online, visit the firms website at www.henzellaw.com

Aveo is a biopharmaceutical company focused on discovering, developing, and commercializing cancer therapeutics. The Company's lead product is an oral inhibitor of the vascular endothelial growth factor ("VEGF") receptors.

The Complaint alleges that throughout the Class Period, Defendants conditioned investors to believe that the Company's drug Tivopath or tivozanib, would receive approval from the U.S. Food and Drug Administration ("FDA") through a host of materially false and misleading statements regarding its Phase III ("TIVO-1") trial design and results. Specifically: (a) the Company failed to disclose to investors that the FDA had recommended to the Company to conduct an additional Phase III trial due to adverse trends in the Company's first study; (b) the Company misled investors regarding the overall safety and efficacy of the product, including failure to disclose the 25% higher rate of death associated with tivozanib therapy compared to the control drug, sorafenib; (c) the Company failed to disclose that almost 90% of the patients studied in TIVO-1 were enrolled from sites in Central and Eastern Europe with inconsistent treatment patterns from those in the US. As a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

On April 30, 2013, the FDA released its Oncologic Drugs Advisory Committee ("ODAC") briefing document (the "Briefing Document") that, among other matters, took particular issue with the rigor of the tivozanib trial.

The Briefing Document also highlighted the regulatory history of Tivopath, and the fact that the Company disregarded explicit FDA recommendations for the Company to conduct an additional Phase III trial, "[a] pre-NDA meeting was held in May 2012. Here, the FDA expressed concern about the adverse trend in overall survival in the single Phase 3 trial ('TIVO-1') and recommended that the sponsor [Aveo] conduct a second adequately powered randomized trial in a population comparable to that in the US." On this news the Company's shares fell $2.33 or 31.31% per share to close at $5.11 on April 30, 2013, on volume of over 15 million shares.

On May 2, 2013, the ODAC voted by an overwhelming majority (13 to 1) to not recommend approval of the tivozanib, because, "the application for investigational agent tivozanib did not demonstrate a favorable benefit-to-risk evaluation for the treatment of advanced renal cell carcinoma (RCC) in an adequate and well-controlled trial." On this news, Aveo shares declined $2.61 per share or nearly 50%, to close at $2.65 per share on May 2, 2013, on volume of over 15 million shares.

Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: Mhenzel@Henzellaw.com 
Phone 610-660-8000
Website: www.henzellaw.com 


'/>"/>
SOURCE Law Offices of Marc S. Henzel
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. ImmusanT Relocates Offices to State-of-the-Art Innovation Facility
2. Voss Law Firm, P.C. Moves Offices in The Woodlands, Texas
3. The Law Offices of Barry Fischer files Federal Complaint on behalf of L.A.-based pot dispensary
4. Screenflex Portable Room Dividers Create "Private Doctors Offices" In Pharmacies During Busy Flu Season
5. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
6. Young Innovations, Inc. Announces Record Sales and EPS for the Quarter Ended March 31, 2012
7. JDRF Announces Research Collaboration with Dexcom, Inc. to Develop "Smart Transmitter" Technology to Accelerate Artificial Pancreas Studies
8. Misonix Announces New Distribution Agreement For Panama
9. University of Maryland BioPark Announces MedImmunes Dr. Bahija Jallal as Newest Member of Board of Directors for UM Health Sciences Research Park
10. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
11. Boston Scientific Announces CE Mark and European Launch of Emerge™ PTCA Dilatation Catheter
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2016)... May 24, 2016   ... beide primären Endpunkte und demonstriert Ebenbürtigkeit ... ‚ausgezeichneter plus guter , ... ,      (Logo: http://photos.prnewswire.com/prnh/20130829/633895-a ... neue positive Daten von der MORA-Studie der Phase ...
(Date:5/24/2016)... May 24, 2016 Celsion Corporation (NASDAQ: ... company, today provided an update on its ongoing ... trial combining GEN-1, the Company,s DNA-based immunotherapy, with ... newly-diagnosed patients with advanced ovarian cancer who will ... GEN-1 is an IL-12 DNA plasmid vector formulated ...
(Date:5/24/2016)... , May 24, 2016 ... Education in Clinical Neurophysiology  Elsevier , ... products and services, today announced the launch of ... open access journal that focuses on clinical practice issues ... case reports, clinical series, normal values and didactic reviews. ...
Breaking Medicine Technology:
(Date:5/26/2016)... ... May 26, 2016 , ... Intalere, the ... and suppliers for its inaugural Member Conference at the Paris Hotel in Las ... the operational health of America’s healthcare providers. , The conference was highlighted by ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... The ... Project offering a new model of care for living and healing, celebrated its ... values: Meaningful Life in a Real Home provided by Empowered Staff. , “This is ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... ... technologies and development solutions for drugs, biologics, consumer health and global clinical supply ... office in Korea to support the company’s continued investment and strategic growth plans ...
(Date:5/26/2016)... , ... May 26, 2016 , ... Memorial Day Weekend ... Amica Insurance is sharing tips to make sure your family and vehicle ... the National Safety Council, there may be 439 deaths and an additional 50,500 serious ...
(Date:5/26/2016)... ... May 26, 2016 , ... North Cypress Medical Center hosted ... Club in Cypress. With the help of community partners, the event organizers raised $45,000 ... hope for wounded service members and their families through health, wellness, and therapeutic support. ...
Breaking Medicine News(10 mins):