SAN FRANCISCO, Oct. 25, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Alnylam Pharmaceuticals, Inc. that the firm is investigating possible securities law violations by the Company and its officers.
If you purchased or otherwise acquired securities of ALNY before October 6, 2016 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/ALNY
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing ALNY@hbsslaw.com.
On October 5, 2016 Alnylam filed its Form 8-K with the SEC publicly announcing it would discontinue testing of one of its key drugs, Revusiran, “upon the recommendation of the ENDEAVOUR Phase 3 study Data Monitoring Committee (DMC).” TheStreet reported on October 6, 2016 that “[w]hen independent monitors peeked into the study results, they found 18 patients had died, more treated with revusiran than with a placebo, although how many more Alnylam won’t disclose.”
This news drove the price of Alnylam shares down over 45% during intra-day trading on October 6, 2016.
“We’re looking into when the deaths occurred relative to management’s statements about the drug’s development,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Alnylam should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ALNY@hbsslaw.com.
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