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:5/5/2016)... 2016 Research ... the  "Europe Thrombocythemia Market and Competitive ... their offering.       (Logo: ... latest research Europe Thrombocythemia Market and ... comprehensive insights into Thrombocythemia pipeline products, ...
(Date:5/5/2016)... , May 5, 2016 ... of the  "Europe Thalassaemia Market and Competitive ... offering.       (Logo: http://photos.prnewswire.com/prnh/20160330/349511LOGO ... Thalassaemia Market and Competitive Landscape Highlights - ... products, Thalassaemia epidemiology, Thalassaemia market valuations and ...
(Date:5/4/2016)...  Compass Diversified Holdings (NYSE: CODI ) ... leading middle market businesses, announced today its consolidated operating ... First Quarter 2016 Highlights , Generated ... "Cash Flow") of $13.6 million for the first quarter ... million for the first quarter of 2016; , ...
Breaking Medicine Technology:
(Date:5/5/2016)... ... 05, 2016 , ... Qrono Inc. , a specialty ... collaboration with the Australian critical medicine company, Phebra Pty Ltd. , to ... medicines can offer improved therapeutic benefits over oral formulations, including better bioavailability, improved ...
(Date:5/5/2016)... West Palm Beach, Fla. (PRWEB) , ... May 05, 2016 , ... ... New Vision Institute in San Diego, California. The laser eye center will now be ... Schanzlin’s recognized surgeons and attentive staff will remain at the full-service facility to ensure ...
(Date:5/5/2016)... Stockholm/San Jose (PRWEB) , ... May 05, 2016 , ... ... the art of self-love. Every day, LELO fans reach out via email, social media ... recurring question keeps upcoming up: “Is the way I masturbate ‘normal’ or ‘correct’?” , ...
(Date:5/5/2016)... ... May 05, 2016 , ... Michael ... charity program created to assist the people of their local community. The agency ... organizations and community leaders. Their hope is to bring awareness to important local ...
(Date:5/5/2016)... ... May 05, 2016 , ... Vitenas Cosmetic Surgery has been named as one ... American Institute of Architects and the Academy of Architecture for Health. The building, brainchild ... Architects, opened to patients in October of 2014. , The prestigious ...
Breaking Medicine News(10 mins):