Levi & Korsinsky, LLP announces it has commenced a securities class action lawsuit in the USDC for the District of Colorado on behalf of shareholders of Clovis Oncology, Inc. (NASDAQGS: CLVS) who purchased shares between May 20, 2014 and November 13, 2015.
The complaint alleges that throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) the New Drug Application (“NDA”) that Clovis submitted to the FDA for rociletinib contained immature data sets based on both unconfirmed response rates and confirmed response rates; (2) Clovis’ Breakthrough Therapy designation submission contained immature data set based primarily on unconfirmed responses; (3) Clovis presented interim data publicly and at medical meetings that included a data set based primarily on unconfirmed responses; (4) as the efficacy data matured, the number of patients with an unconfirmed response who converted to a confirmed response was lower than expected; and (5) as a result of the foregoing, Clovis’ NDA was likely to be delayed and/or rejected by the FDA. If you suffered a loss in Clovis Oncology you have until January 19, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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