NEW YORK, May 12, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Arbutus Biopharma Corporation (“Arbutus” or the “Company”) ( ABUS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Arbutus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 25, 2023, Arbutus issued a press release “announc[ing] that the Company was notified via verbal communication from the U.S. Food and Drug Administration (FDA) that the AB-101 Investigational New Drug (IND) application has been placed on clinical hold” and that “[t]he FDA indicated they will provide an official Clinical Hold letter to Arbutus within 30 days. Arbutus stated that “[b]ased on this communication, the Company no longer intends to report initial data from the single-ascending dose portion of the Phase 1 clinical trial in the second half of 2023.”
On this news, Arbutus’s stock price fell $0.36 per share, or 12.46%, to close at $2.53 per share on April 25, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
