NEW YORK, 26 March 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the District of South York on behalf of investors who purchased AstraZeneca PLC (NASDAQ: AZN) (21 ADS) American Investment Shares between May 21, 2020 and November 20, 2020 (the “class period” ). Investors until March 29, 2021 must apply to the Court to be appointed as the main plaintiff in the lawsuit.
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AstraZeneca is one of the largest biopharmaceutical companies in the world and was one of the early runners early in the race to develop the COVID-19 vaccine. In April 2020, the Company partnered with Oxford University to develop a reconstituted adenovirus vaccine for the virus, later known as AZD1222.
On November 23, 2020, AstraZeneca issued a statement announcing the results of an interim analysis of its follow-up test for AZD1222. The news immediately began to raise questions among analysts and industry experts. AstraZeneca revealed that the interim analysis included two smaller-scale trials in different regions (United Kingdom and Brazil) that, for unexplained reasons, used two different dosing rules. . One clinical trial administered half a dose of AZD1222 to patients followed by a full dose, and the other trial administered two full doses. Against this, AstraZeneca reported that the half-dosing regimen was significantly more effective at inhibiting COVID-19 at 90% efficacy than the full dosing regimen, which had achieved a efficacy of only 62%.
In the days that followed, further revelations were made regarding problems with AstraZeneca’s AZD1222 clinical trials. For example, the different dosing regimes were revealed as a result of manufacturing error rather than test design. Also, the half-strength dose has not been determined in people over 55 – despite the fact that this population is the most vulnerable to COVID-19. In addition, some test participants received a second dose longer than initially expected. U.S. regulators said if AstraZeneca could not clearly explain the inconsistencies in the results of its test, it would be likely that the results would not be sufficient for approval for a commercial sale in the United States.
As negative news reports continued to highlight previously unpublished problems and flaws in AstraZeneca clinical trials for AZD1222, the price of AstraZeneca ADS fell to $ 52.60 by closing the market on November 25, 2020, a 5% decline over three trading days in response to bad news.
The complaint, filed on July 26, 2021, alleges that defendants erred facts regarding the Company’s ongoing clinical trials of AZD1222 and latent problems that had surfaced in the trials, including a dosing error detected early by the Company but not disclosed to investors.
If you purchased AstraZeneca ADSs during Class Time and suffered a loss, if you have information, you would like to learn more about these applications, or if you have any questions about this publication or your rights or interests. for these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], phone at (212) 355-4648, or ro filling in this contact form. There is no cost or responsibility.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex legal matters in state and federal courts across the country. For more information about the company, visit www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.
Contact information:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com