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Aradigm Corporation (ARDM)

NASDAQ:ARDM

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Aradigm Corporation To Contact The Firm

If you invested in Aradigm stock or options between July 27, 2017 and January 8, 2018 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 Northern District of California on behalf of all those who purchased Aradigm common stock between July 27, 2017 and January 8, 2018 (the “Class Period”).  The case, Kheder v. Aradigm Corporation et al, No. 18-cv-00261 was filed on January 11, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) the methodology underlying Aradigm’s Linhaliq Phase III clinical trials was not well tailored to yield consistent efficacy findings or to provide data sufficient to account for discordant efficacy findings; (ii) the endpoint of the Phase III trials—namely, delaying the time to first exacerbation on study therapy compared to placebo over approximately one year of observation—was unlikely to demonstrate a clinically meaningful benefit with respect to a patient population that would likely be taking the drug for a longer duration; (iii) accordingly, these studies were unlikely to support Food and Drug Administration’s (“FDA”) approval of the Linhaliq New Drug Application (“NDA”); and (iv) as a result, Aradigm’s public statements were materially false and misleading at all relevant times.

Specifically, on January 9, 2017, the FDA published briefing documents for the meeting with the Antimicrobial Drugs Advisory Committee on its website stating, in part, that “[r]easons for the discordance in efficacy findings between trials cannot be explained based on the information collected in the two trials.”  The FDA also expressed concern as to whether longer exposure to Linhaliq’s active agent, ciprofloxacin, “as would be expected in clinical practice (likely lifelong after starting therapy), would result in additional safety issues and bacterial resistance leading to erosion of efficacy over time.”

On this news, Aradigm’s share price fell from $5.98 per share on January 8, 2018 to a closing price of $3.70 on January 9, 2018 — a $2.28 or a 38.13% drop.

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fill out the form below and a Firm representative will contact you.

  • Case:
    Aradigm Corporation (ARDM)
  •    

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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:

  • 01/10/2018

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