A lawsuit was filed on behalf of investors in TESARO Inc (NASDAQ:TSRO) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/05/2018 -- An investor, who purchased shares of TESARO Inc (NASDAQ:TSRO), filed a lawsuit over alleged violations of Federal Securities Laws by TESARO Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of TESARO Inc (NASDAQ:TSRO) have certain options and for certain investors are short and strict deadlines running. Deadline: March 19, 2018. NASDAQ:TSRO investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
TESARO, Inc. is an oncology-focused biopharmaceutical company that operates through the business of developing and commercializing of oncology-focused therapeutics segment. TESARO Inc's product portfolio has included Varubi (rolapitant), a neurokinin-1 (NK-1) receptor antagonist for the prevention of chemotherapy induced nausea and vomiting. In 2015, the U.S. Food and Drug Administration ("FDA") approved an oral version of Varubi. On March 14, 2016, TESARO Inc announced the submission of a New Drug Application for an intravenous formulation of Varubi to the FDA. TESARO Inc reported that its annual Total Revenue rose from $0.32 million in 2015 to $44.82 million in 2016. On October 25, 2017, TESARO Inc announced the FDA's approval of its intravenous version of Varubi.
Then, on January 12, 2018, TESARO Inc announced that it had updated the U.S. labeling for Varubi (rolapitant), indicated for the prevention of delayed nausea and vomiting associated with chemotherapy, after receiving reports of "[a]naphylaxis, anaphylactic shock and other serious hypersensitivity reactions . . . in the postmarketing setting, some requiring hospitalization." TESARO Inc further stated that it "has issued a Dear Healthcare Professional (DHCP) letter."
The plaintiff claims that between March 14, 2016 and January 12, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that substantial undisclosed health risks, including anaphylaxis and anaphylactic shock, were associated with Tesaro's intravenous formulation of Varubi, and that as a result of the foregoing, Tesaro's shares traded at artificially inflated prices between March 14, 2016 and January 12, 2018, and class members suffered significant losses and damages.
Those who purchased shares of TESARO Inc (NASDAQ:TSRO) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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