The law firm of Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating potential federal securities claims against Vical Incorporated (“Vical” or the “Company”) and certain of its officers and directors in connection with allegations that the Company made materially false and misleading statements regarding prospective FDA approval for one of its primary cancer immunotherapy products, Allovectin-7®.
On August 12, 2013, the Company issued a press release announcing that it was terminating the Allovectin program because the drug “failed to demonstrate a statistically significant improvement vs. first-line chemotherapy for either the primary endpoint of objective response rate.”
On this news, Vical declined from $3.58 per share or approximately 57% to close at $1.53 per share on heavy trading volume.
Wolf Haldenstein has represented individual and institutional investors for many years, serving as lead counsel in numerous cases in United States federal and state courts. Please visit the Wolf Haldenstein website ( http://www.whafh.com) for more information about the firm.Please contact us no later than December 31, 2013, if you own Vical securities and wish to discuss this matter with us, or have any questions concerning your rights and interests:
|Gregory M. Nespole, Esq.|
|Wolf Haldenstein Adler Freeman & Herz LLP|
|270 Madison Avenue|
|New York, New York 10016|