NEW YORK, Feb. 09, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed against Aratana Therapeutics, Inc. (“Aratana” or the “Company”) (Nasdaq:PETX) in the United States District Court for the Southern District of New York on behalf of persons or entities who purchased or otherwise acquired Aratana stock between March 16, 2015 through February 3, 2017, inclusive (the “Class Period”).
Investors who have incurred losses in shares of Aratana Therapeutics, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased shares of Aratana Therapeutics, Inc. within the class period, you may, no later than April 7, 2017, request that the Court appoint you lead plaintiff of the proposed class.
Aratana Therapeutics, Inc. is a development-stage biopharmaceutical company that develops biomedical therapeutics for animals. The Company offers various products to treat pain and inflammation associated with serious medical conditions in pets. One of the Company’s key products is ENTYCE, also known as AT-002 (capromorelin oral solution), an appetite stimulant for dogs.
The filed Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Aratana did not have manufacturing contracts in place sufficient to support manufacturing of ENTYCE at a commercial scale; (ii) consequently, ENTYCE was not likely to be commercially available until late 2017; (iii) accordingly, Aratana had misled investors with respect to the likely timeline for a commercial launch of ENTYCE; and (iv) as a result of the foregoing, Aratana’s public statements were materially false and misleading at all relevant times.
On February 6, 2017, Aratana disclosed that the Center for Veterinary Medicine (“CVM”) had requested more information about ENTYCE. Aratana advised investors that the CVM’s request was “in connection with the Company’s post-approval supplement request to transfer the manufacturing of ENTYCE to a new vendor in order to produce ENTYCE at a commercial scale” and that the Company “now anticipates that ENTYCE . . . will be commercially available by late 2017.”
On this news, Aratana’s share price fell $1.44, or 17.93%, to close at $6.59 on February 6, 2017.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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