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:7/27/2017)... Services, Inc. (NYSE: WST ) today announced ... financial guidance for the full-year 2017. ... Reported net sales of $397.6 million, a record high, ... constant currency (organic) grew by 3.9%. ... in the prior-year quarter. Second-quarter 2017 adjusted diluted EPS ...
(Date:7/26/2017)... SINGAPORE , July 27, 2017  Radium Medical Aesthetics, a ... LASEMD, designed to delay aging by effectively addressing several skin conditions ... the skin to become rougher and more fragile. The skin becomes ... the unavoidable exposure to the harmful UV rays from the sun ... hyperpigmentation. ...
(Date:7/26/2017)... , July 26, 2017 The Galien ... Prix Galien USA Award Nominees. Counted ... Prix Galien Award recognizes outstanding biomedical and technology product achievement ... To qualify, each candidate must be U.S. Food ... five years and demonstrate tremendous potential to impact human health. ...
Breaking Medicine Technology:
(Date:8/18/2017)... (PRWEB) , ... August 18, ... ... d/b/a Quick International, LLC (“Quick”), a highly specialized asset-light logistics provider of ... entered into a definitive agreement to purchase Unitrans International Corporation, a division ...
(Date:8/18/2017)... NY (PRWEB) , ... August 18, 2017 , ... ... of “Vision & Hearing” campaign, advocating for active, healthy lifestyles and highlighting the ... available for individuals with hearing impairments and shares the latest innovations in hearing ...
(Date:8/18/2017)... McLean, VA (PRWEB) , ... August 18, 2017 ... ... offers asset protection services and financial consultations to communities throughout the greater DC ... Semper K9 with the goal of rescuing local animals and training them to ...
(Date:8/18/2017)... ... August 18, 2017 , ... MLM Insurance Group, a Miami ... southern Florida, is working to support the Take Stock In Children Foundation during ... families. , The Take Stock In Children Foundation (TSC) offers guidance and assistance ...
(Date:8/18/2017)... ... August 18, 2017 , ... The Golseth Agency, a Texas based insurance management ... spearheading a regional charity campaign organized to provide support to Christina Upchurch and her ... year, Christina and her children returned from out of town to find her husband ...
Breaking Medicine News(10 mins):