NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of purchasers of the securities of Aradigm Corporation (NASDAQ:ARDM) resulting from allegations that Aradigm may have issued materially misleading business information to the investing public.
On January 9, 2018, the U.S. Food and Drug Administration (“FDA”) released its briefing document for the January 11, 2018 meeting of the Antimicrobial Drugs Advisory Committee to discuss Aradigm’s New Drug Application for Linhaliq™ for the proposed indication of treatment of non-cystic fibrosis bronchiectasis (“NCFB”). The FDA briefing document stated that “[t]he Agency recommended that two adequate and well-controlled clinical trials be conducted to support the NCFB indication because,” among other things, “there were too many uncertainties with regard to duration of treatment, frequency of administration and endpoints to allow for reliance on a single Phase 3 trial,” and “the conduct of two independent trials would be important in providing replicative evidence supporting an overall demonstration of efficacy and safety.” On this news, shares of Aradigm fell sharply during intraday trading on January 9, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Aradigm investors. If you purchased shares of Aradigm, please visit the firm’s website at http://www.rosenlegal.com/cases-1268.html or more information. You may also contact Phillip Kim or Daniel Sadeh of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or dsadeh@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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