Company: Alnylam Pharmaceuticals, Inc.
Class Period: February 15, 2018 — September 12, 2018
Court: U.S.D.C. – Southern District of New York
Deadline: November 26, 2018
Kaskela Law LLC announces that an investor class action lawsuit has been filed against Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) (“Alnylam” or the “Company”) on behalf of purchasers of the Company’s securities between February 15, 2018 and September 12, 2018, inclusive (the “Class Period”).
On September 12, 2018, Nomura/Instinet analyst Christopher Marai stated that a review document released by the FDA’s Center for Drug Evaluation and Research “highlights greater risk” with respect to certain trials of Alnylam’s ONPATTRO (patisiran) lipid complex injection, as well as “a limited market opportunity in TTRcardiomyopathy, and a potential platform safety risk.” Specifically, Marair asserted that “[t]he document highlights FDA reviewers’ concerns over cardiac deaths in patients treated with ONPATTRO and suggests that the drug should be limited to patients with polyneuropathy only (i.e., not patients with cardiac manifestations and polyneuropathy). Furthermore, we believe some comments on the lack of cardiac efficacy call into question claims made by [Alnylam] in this regard.”
Following this news, shares of Alnylam’s common stock fell $5.60 per share, or over 5.5% in value, to close on September 12, 2018 at $94.75.
The shareholder class action complaint alleges that defendants made false and misleading statements and failed to disclose to investors during the Class Period that: (i) Alnylam had overstated the efficacy and safety of its Onpattro (patisiran) lipid complex injection; and (ii) as a result, Alnylam’s public statements were materially false and misleading at all relevant times. The complaint further alleges that, as a result of the foregoing, investors purchased Alnylam’s securities at artificially inflated prices during the Class Period and ustained significant investment damages.
IMPORTANT DEADLINE: Investors who purchased Alnylam’s securities during the Class Period may, no later than November 26, 2018, seek to be appointed as a lead plaintiff representative of the investor class.
Alnylam investors are encouraged to contact Kaskela Law LLC at (888) 715 – 1740 to discuss this action and their legal rights and options, and/or complete the information form on this page.