Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of AnaptysBio, Inc. (“AnaptysBio” or the “Company”) (Nasdaq: ANAB). AnaptysBio is a clinical stage biotechnology company.
The Firm’s investigation relates to alleged misrepresentations regarding the Company’s drug known as etokimab for the treatment of eczema, as well as peanut allergies. On March 26, 2018, AnaptysBio announced data from an interim analysis of a Phase 2a trial for etokimab in patients with peanut allergies. Although management reported improvement in patients that received a single etokimab dose compared to patients dosed with a placebo, later that day an RBC Capital Markets analyst questioned the data’s veracity. On April 4, 2018, the same analyst downgraded AnaptysBio stock “on increased skepticism regarding [etokimab’s] path forward in peanut allergy” and “concern surrounding management credibility.” Thereafter, however, management continued to tout etokimab’s efficacy for the treatment of eczema and peanut allergies.
On August 7, 2018, AnaptysBio announced that it deprioritized further clinical development of etokimab in peanut allergy patients “[a]s a result of market assessment” and would not pursue a Phase 2b clinical trial for treatment of peanut allergies. But management still continued to tout the efficacy of etokimab in the treatment of eczema.
On June 21, 2019, a Credit Suisse analyst issued a report questioning the veracity of the Company’s Phase 2a eczema data. And finally, on November 8, 2019, AnaptysBio announced “very disappoint[ing]” data from its Phase 2b multi-dose study which evaluated the efficacy of etokimab in approximately 300 eczema patients. On this news, AnaptysBio’s stock price dropped 72%. A federal securities fraud class action against AnaptysBio was subsequently filed on March 25, 2020 in the U.S. District Court for the Southern District of California. That case remains pending.
If you currently own AnaptysBio common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at email@example.com.
Shuman Glenn & Stecker represents investors throughout the nation, concentrating its practice in stockholder litigation.