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Array Biopharma, Inc. (ARRY)

NASDAQ:ARRY

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Array Biopharma, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Array Biopharma, Inc. (“Array Biopharma” or the “Company”) (NASDAQ:ARRY) of the January 22, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Array Biopharma stock or options between December 16, 2015 and March 17, 2017 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the District of Colorado on behalf of all those who purchased Array Biopharma common stock between December 16, 2015 and March 17, 2017 (the “Class Period”).  The case, Rose v. Array Biopharma Inc., No. 1:17-cv-02789 was filed on November 20, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failing to disclose that: (i) Array Biopharma’s Phase III NEMO study failed to show sufficient clinical benefit of the Company’s lead product, binimetinib, New Drug Application (“NDA”) in use for patients with NRAS-mutant melanoma; (ii) it was aware that this lack of supporting clinical data would not be sufficient to receive U.S. Food and Drug Administration (“FDA”) approval of binimetinib; and (iii) as a result, Array Biopharma’s public statements were materially false and misleading at all relevant times.

Specifically, on March 19, 2017 Array Biopharma issued a press release announcing the withdrawal of binimetinib NDA in use for patients with NRAS-mutant melanoma.  Then, pre-market on March 20, 2017, biotech analyst John Carroll from Endpoints News published an article entitled “Array walks back its FDA pitch on binimetinib, derailing plans for commercial launch.”

On this news, over the course of two trading days, Array Biopharma’s share price fell from $10.56 per share on March 17, 2017 to a closing price of $9.13 on March 21, 2017—a $1.43 or a 13.54% drop.

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  • Case:
    Array Biopharma, Inc. (ARRY)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 11/21/2017

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