Navigation Links
Vanda Pharmaceuticals, Inc. Sued by Investor
Date:7/7/2013

SAN DIEGO and WASHINGTON, July 3, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP announce that a shareholder of Vanda Pharmaceuticals, Inc. (NasdaqGM: VNDA) securities has filed a complaint in the U.S. District Court for the District of Columbia against the company and certain of its officers and directors.  The complaint alleges that defendants violated the Securities Exchange Act of 1934 between December 18, 2012 and June 18, 2013 (the "Class Period").

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Vanda is a biopharmaceutical company focused on the development and commercialization of products for the treatment of central nervous system disorders.  The company's product portfolio includes tasimelteon, which is currently in clinical development for "Non-24," a neurological sleep disorder that affects proportionately more totally blind individuals than sighted.

Vanda Is Accused of Making False and Misleading Statements Regarding Results of Its Clinical Trial for Tasimelteon

Throughout the Class Period, defendants made false and/or misleading statements and failed to disclose material adverse facts about the results of the clinical trial for tasimelteon.  Specifically, defendants made false and/or misleading statements and failed to disclose that: (i) the company made multiple changes in the primary endpoint over the course of the trials; (ii) the company eliminated nighttime total sleep as the primary endpoint in its studies as there was no discernible difference in efficacy and safety in nighttime total sleep between those patients deemed to have Non-24 and those patients with a normal sleep cycle; and (iii) the company made a change in a new primary endpoint just one month before study results were published that has allegedly never been used before in sleep-drug clinical trials, nor was it endorsed by the U.S. Federal Drug Administration.

Vanda Stock Price Falls Dramatically on Question of Validity of Clinic Trial for Tasimelteon

On June 19, 2013, The Street published an article casting doubt on the quality and efficacy of Vanda's clinical trial procedure and test data for tasimelteon.  In addition to the issues listed above, the article states that Vanda was forced to cut patient enrollment in the clinical trials in half because an insufficient number of totally blind patients with Non-24 could not be identified, and that ultimately less than 5% of the patients enrolled in the trials suffered from Non-24 according to the "textbook definition" of the disease.

On this news, Vanda shares declined $2.41 per share or more than 22%, to close at $8.51 per share on June 19, 2013.

If you invested in Vanda and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to http://www.robbinsarroyo.com.

Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/vanda-pharmaceuticals-inc/

Attorney Advertising. Past results do not guarantee a similar outcome.  

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free at (800) 350-6003
http://www.robbinsarroyo.com


'/>"/>
SOURCE Robbins Arroyo LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Vanda Pharmaceuticals Reports First Quarter 2012 Results
2. Vanda Pharmaceuticals Inc. Presents Scientific Posters at Society for Research on Biological Rhythms (SRBR) Annual Meeting
3. Vanda Pharmaceuticals to Present at the Jefferies 2012 Global Healthcare Conference
4. Vanda Pharmaceuticals Announces Date of Annual Meeting of Stockholders
5. Michael Cola Joins the Board of Directors of Vanda Pharmaceuticals
6. Vanda Pharmaceuticals to Present at the JMP Securities Healthcare Conference
7. Vanda Pharmaceuticals to Announce Second Quarter 2012 Financial Results on August 2, 2012
8. Vanda Pharmaceuticals to Participate in Two September Healthcare Investor Conferences
9. Vanda Pharmaceuticals Reports Third Quarter 2012 Results
10. Vanda Pharmaceuticals to Announce Fourth Quarter 2012 Financial Results on February 12, 2013
11. Vanda Announces Positive Results in the Second Phase III Study (RESET) of Tasimelteon for the Treatment of Non-24-Hour Disorder
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/7/2017)... , Aug. 7, 2017  Endo International plc ... reached agreements to resolve virtually all known U.S. mesh ... discussions to resolve the known remaining U.S. claims at ... payments beginning in the fourth quarter of 2017 and ... of its second quarter 2017 results, the Company intends ...
(Date:8/4/2017)... Aug. 3, 2017  Agragen, LLC, a ... in the biopharmaceutical, nutraceutical, and aquacultural feed sectors, ... its lead drug candidates, AGR131.  This drug is ... from the blood of patients suffering from inflammatory ... bowel disease. ...
(Date:8/2/2017)... Aug. 2, 2017 Fenita J. ... as a Pinnacle Lifetime Professional in the Field ... Manager at Turing Pharmaceuticals, AG. Her skills and ... relationship building.                ... 25 years of experience as a highly successful ...
Breaking Medicine Technology:
(Date:8/18/2017)... ... August 18, 2017 , ... “Emotions are sacred, valid, honored, encouraged. This ... positive education company Generation Mindful. To help change the mindset of parents and educators ... skills, she created the Time-In Toolkit, which launched on Kickstarter 3 weeks ago and ...
(Date:8/18/2017)... (PRWEB) , ... August 18, 2017 , ... Alcovit, a ... to ramp up its marketing efforts with its product now available through Jet.com. ... to the public. The effervescent powdered drink is designed to quickly detox the body ...
(Date:8/18/2017)... ... ... “Our Mountains to Climb: A Journey of Love and Faith Through Trials”: ... faith they shared to overcome struggles in life. “Our Mountains to Climb: A Journey ... Corcoran, a retired teacher and happily married since 1999; the author’s personal experiences drive ...
(Date:8/18/2017)... ... ... “Beyond Our Imaginations: The Infinite God”: shows the importance of God in living ... of published author, Mark Lawrence, born in Michigan, the author has lived in various ... greater man of God is that I have to be more mindful of feminine ...
(Date:8/18/2017)... ... ... Mandate for Kingdom Builders”: a call to walk as citizens of the Kingdom and ... published author, John F. McGeorge, Jr. Dr. John F. McGeorge Jr., B.A., J.D., ... three decades training pastors and Christian leaders. He also met his wife, Valerija, ...
Breaking Medicine News(10 mins):