NEW YORK, Jan. 11, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Isis Pharmaceuticals, Inc. ("Isis" or the "Company") (NasdaqGS: ISIS).
The investigation focuses on whether the Company and its executives violated federal securities laws by misleading investors to believe that one of the drugs in Isis' product pipeline, Kynamro, would receive approval from the U.S. Food and Drug Administration ("FDA") through a bevy of materially false and misleading statements regarding the safety and efficacy of the drug, as well as purportedly affirmative results from Kynamro's phase three clinical trial.
On October 16, 2012, an FDA advisory committee posted information on the FDA's website noting that in recent patient studies, 3.1 percent of patients, or 23 people treated with Kynamro developed tumors and three of them died, while only 0.9 percent, or two patients getting a placebo developed tumors. The Endocrinologic and Metabolic Drugs Advisory Committee also noted liver and blood vessel cancers were seen in earlier tests of the drug conducted on mice.As a result of this disappointing news, the price per share of Isis Pharmaceuticals common stock declined $2.88, or nearly 22%, to close that day at $10.27, on heavy trading volume. Request more information now by clicking here: www.faruqilaw.com/ISIS. There is no cost or obligation to you. Take Action If you purchased Isis stock or options between March 29, 2012 and October 15, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/ISIS. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Isis' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. FARUQI & FARUQI, LLP369 Lexington Avenue, 10th Floor New York, NY 10017Attn: Richard Gonnello, Esq. email@example.com Francis McConville, Esq. firstname.lastname@example.orgTelephone: (877) 247-4292 or (212) 983-9330 SOURCE Faruqi & Faruqi, LLP
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV