An investigation for investors in Aradigm Corporation (NASDAQ:ARDM) shares over potential securities laws violations by Aradigm Corporation was announced.
San Diego, CA -- (SBWIRE) -- 01/10/2018 -- Aradigm Corporation is under investigation over possible securities laws violations in connection with certain financial statements made by Aradigm Corporation. The investigation was announced for investors in NASDAQ:ARDM shares.
Investors who purchased shares of Aradigm Corporation (NASDAQ:ARDM), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether certain statements by Aradigm Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Hayward, CA based Aradigm Corporation is a pharmaceutical company focused on the development and commercialization of products for the treatment and prevention of severe respiratory diseases. Aradigm Corporation reported that its annual Total Revenue declined from $33.56 million in 2014, respectively $23.43 million in 2015, to $0.20 million in 2016 and that its Net INcome of $4.65 million declined to a Net loss of $17.21 million in 2015, respectively $32.94 million in 2016.
Shares of Aradigm Corporation (NASDAQ:ARDM) grew from $0.80 per share in Nmay 2017 to as high as $7.35 per share in late December 2017.
On January 9, 2018, the U.S. Food and Drug Administration ("FDA") released its briefing document for the Antimicrobial Drugs Advisory Committee meeting scheduled for January 11, 2018. The FDA plans to discuss Aradigm's New Drug Application for Linhalig TM for the proposed indication of treatment of non-cystic fibrosis bronchiectasis ("NCFB). The briefing document stated that "[t]he Agency recommended that two adequate and well-controlled clinical trials be conducted to supposed the NCFB indication because," among other things, "there were too many uncertainties with regard to duration of treatment, frequency of administration and endpoints to allow for reliance on a single Phase 3 trial," and "the conduct of two independent trials would be important in providing replicative evidence supporting an overall demonstration of efficacy and safety."
NASDAQ:ARDM shares declined to $3.35 per share on January 9, 2018.
Those who purchased shares of Aradigm Corporation (NASDAQ:ARDM) have certain options and should contact the Shareholders Foundation.
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