NEW YORK, June 19, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Vanda Pharmaceuticals, Inc. ("Vanda" or the "Company") (NasdaqGM: VNDA). The investigation focuses on whether the Company and its executives violated federal securities laws.
On June 19, 2013, shares of Vanda fell $2.42 or 22% to trade at $8.50 during intraday trading after an article on appeared on the street.com alleging that the design of Vanda's primary phase III study changed numerous times, including a complete replacement of the primary endpoint just one month before study results were announced. The replacement primary endpoint installed to evaluate tasimelteon's benefit was created by Vanda and has never been used before in sleep-drug clinical trials, nor was it endorsed by the FDA. The street.com also alleged that during the tasimelteon clinical trials, Vanda cut half the patient enrollment because the blind patients with non-24 could not be identified. In May, Vanda submitted a U.S. approval application for tasimelteon to treat non-24 disorder. The U.S. Food and Drug Administration has not yet accepted the tasimelteon submission for review or set an official approval decision date.
If you are aware of any facts relating to this investigation, or purchased shares of Vanda Pharmaceuticals you can assist this investigation by contacting either Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
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