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Tesaro, Inc. (TSRO)

NASDAQ:TSRO

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Tesaro Incorporated To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tesaro Incorporated (“Tesaro” or the “Company”) (NASDAQ:TSRO) of the March 19, 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 Tesaro stock or options between March 14, 2016, and January 12, 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 District of Massachusetts on behalf of all those who purchased Tesaro securities between March 14, 2016 and January 12, 2018, inclusive (the “Class Period”).  The case, Bowers v. Tesaro Inc. et al, No. 18-cv-10086 was filed on January 17, 2018, and has been assigned to Judge Allison D. Burroughs.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to fully disclose health risks, including anaphylaxis and anaphylactic shock, associated with Tesaro’s intravenous formulation of Varubi.  An oral version of Varubi, for the prevention of chemotherapy-induced nausea and vomiting, was approved by the U.S. Food and Drug Administration (“FDA”) in 2015.

Specifically, on March 14, 2016, Tesaro issued a press release announcing the submission of a New Drug Application for an intravenous formulation of Varubi.  Then, on October 25, 2017, Tesaro announced that the FDA had approved the new Varubi formulation (Varubi® IV).  The Company subsequently announced in its third quarterly statement of 2017, filed on Form 10-Q on November 7, 2017, that it expected to “commence sales of VARUBI IV in the U.S. in the fourth quarter of 2017.”  Then, after market close on January 12, 2018, the Company announced that, in collaboration with the FDA, it would update the labeling on its intravenous formulation of Varubi after receiving reports of anaphylaxis, anaphylactic shock and other serious hypersensitivity reactions in patients taking the drug.

On this news, Tesaro’s share price fell from $69.59 per share on January 12, 2018 to a closing price of $65.52 on January 16, 2018—a $4.07 or a 5.85% drop.

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  • Case:
    Tesaro, Inc. (TSRO)
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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:

  • 01/17/2018

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