EIGR Class Action Lawsuit – Eiger BioPharmaceuticals Lawsuit
An EIGR class action lawsuit (Eiger BioPharmaceuticals Class Action Lawsuit) has been filed on behalf of investors who purchased Eiger BioPharmaceuticals Class Action Lawsuit (EIGR) securities between March 10, 2021 – October 4, 2022, inclusive. For more on the EIGR Lawsuit please contact us today.
Is There A EIGR Class Action Lawsuit?
On September 6, 2022, Eiger issued a press release “provid[ing] an update on the status of its planned request for [EUA] of peginterferon lambda for the treatment of patients with mild-to-moderate COVID-19 based on its most recent communications with the [FDA].”
Specifically, the Company announced that “[f]ollowing a cooperative and extensive preEUA information exchange with [the] FDA regarding the Phase 3 TOGETHER study of peginterferon lambda for COVID-19, the agency has indicated that it is not yet able to determine whether the criteria for the submission of an application and issuance of an EUA are likely to be met.”
On this news, Eiger’s stock price fell $2.51 per share, or 29.36%, to close at $6.04 per share on September 6, 2022.
Then, on October 5, 2022, Eiger announced that it would not seek an EUA request for peginterferon lambda after the FDA had “denied the request for a pre-EUA meeting.” Specifically, the Company disclosed that, “[c]iting its concerns about the conduct of the TOGETHER study, [the] FDA concluded that any authorization request based on the data [presented] is unlikely to meet the statutory criteria for issuance of an EUA in the current context of the pandemic.”
On this news, Eiger’s stock price fell $0.37 per share, or 5.01%, to close at $7.02 per share on October 5, 2022.
What Is The Eiger BioPharmaceuticals Lawsuit About?
The Eiger BioPharmaceuticals Class Action Lawsuit (NASDAQ:EIGR) (EIGR Class Action Lawsuit) was filed when after the market closed on October 4, 2022, Eiger announced that it would not seek an EUA request for peginterferon lambda after the FDA had “denied the request for a pre-EUA meeting.” Specifically, the Company disclosed that, “citing its concerns about the conduct of the TOGETHER study, the FDA concluded that any authorization request based on the data presented is unlikely to meet the statutory criteria for issuance of an EUA in the current context of the pandemic.
How Much Did Shareholders Lose In EIGR Stock?
Shareholders who held EIGR securities saw stock price fell $2.51 per share, or 29.36%, to close at $6.04 per share on September 6, 2022.
Additionaly, Eiger’s stock price fell $0.37 per share, or 5.01%, to close at $7.02 per share on October 5, 2022.
Is There A Deadline For The EIGR Lawsuit?
What Is the Eiger Pharmaceuticals Lawsuit Complaint
According to the EIGR lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(i) Defendants overstated Eiger’s clinical and regulatory drug development expertise;
(ii) Defendants failed to properly assess, and/or ignored issues with, the design of the TOGETHER study and its ability to support the peginterferon lambda EUA;
(iii) there were issues with the conduct of the TOGETHER study and/or the TOGETHER study was not properly designed for the peginterferon lambda EUA in the current context of the pandemic;
(iv) as a result, the FDA was unlikely to approve the submission of a peginterferon lambda EUA;
(v) as a result of all the foregoing, peginterferon lambda’s regulatory and commercial prospects for the treatment of COVID-19 were overstated; and
(vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in EIGR, you have until January 9, 2023 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.
What Is The Lead Plaintiff Process?
THE LEAD PLAINTIFF PROCESS: According to the Private Securities Reform Act of 1995, any investor who bought or acquired EIGR securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The EIGR class-action lawsuit is directed by the lead plaintiff. To litigate the Eiger BioPharmaceuticals Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the EIGR Class Action Lawsuit.
Class Action Lawsuit Attorney
Levi & Korsinsky, Securities Class Action Attorney, for over the past 20 years, has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
What Does EIGR Do?
Eiger BioPharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the development and commercialization of targeted therapies for rare and ultra-rare diseases in the United States and internationally.
Its lead product candidate is Lonafarnib, an orally bioavailable, small molecule, which is in Phase III clinical trials to treat hepatitis delta virus infection.
The company’s product candidate also include Lambda, which targets type III interferon receptors that has completed Phase II clinical trials; Lonafarnib for the treatment of progeria and progeroid laminopathies; and Avexitide for the treatment of congenital hyperinsulinism, as well as has completed Phase II clinical trials to treat post-bariatric hypoglycemia.
Eiger BioPharmaceuticals, Inc. was founded in 2008 and is headquartered in Palo Alto, California.