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:6/24/2016)... OAKLAND, N.J. , June 24, 2016 /PRNewswire/ ... in the design, development and manufacturing of collagen ... and regeneration announced today that Bill Messer ... Sales and Marketing to further leverage the growing ... surgery medical devices. Bill joins the ...
(Date:6/24/2016)... , June 24, 2016 ... the "Structural Electronics 2015-2025: Applications, Technologies, Forecasts" ... In-Mold Electronics, Smart Skin, Structural ... Structural electronics involves electronic and/or ... protective structures, replacing dumb structures such as vehicle ...
(Date:6/24/2016)... Research and Markets has announced the addition of the ... to their offering. ... World Market for Companion Diagnostics covers the world market for ... report includes the following: , World IVD ... (N. America, EU, ROW), 2015-2020 , World IVD Companion ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... ... PawPaws brand pet supplements owned by Whole Health Supply is ... of felines. The formula is all-natural and is made from Chinese herbs that have ... Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root Extract ...
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... ... fertility once they have been diagnosed with endometriosis. These women need a treatment ... also require a comprehensive approach that can help for preservation of fertility and ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Austin residents ... the American College of Mohs Surgery and to Dr. Russell Peckham for medical and ... highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed ...
(Date:6/25/2016)... Aliso Viejo, California (PRWEB) , ... June 25, 2016 , ... ... preset to fit their specific project," said Christina Austin - CEO of Pixel Film ... all fully customizable and all within Final Cut Pro X . Simply select ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. ... his M.D from the David Geffen School of Medicine at UCLA. He trained in ... to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he ...
Breaking Medicine News(10 mins):