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Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the District of New Jersey on behalf of shareholders of Insmed Incorporated (NASDAQ: INSM) who purchased shares between March 18, 2013 and June 8, 2016.
The complaint alleges that, throughout the Class Period, defendants issued false and misleading statements to investors and/or failed to disclose that: (1) the data supporting Insmed’s European marketing authorization application (“MAA”) for lead product candidate ARIKAYCE was not likely to be approved by the European Medicines Agency (“EMA”) for the treatment of NTM lung disease, and (2) therefore ARIKAYCE’S approval by the EMA and subsequent commercialization in Europe were less likely and/or imminent than Insmed led investors to believe. On June 8, 2016, Insmed announced it had withdrawn its MAA for ARIKAYCE from the EMA, revealing that the Committee for Medicinal Products for Human Use indicated that the phase 2 study did not provide a sufficient amount of evidence to support an approval.
If you suffered a loss in Insmed you have until September 13, 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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