Drug Maker Had Duty To Disclose Clinical Trial Information, Investor Argues

Mealey's (April 12, 2022, 1:26 PM EDT) -- RICHMOND, Va. — A clinical-stage biopharmaceutical company and certain of its current and former senior executives are incorrect in contending that they had no duty to disclose certain data notwithstanding its materiality in making statements regarding Phase 3 clinical trial results for the company’s breast cancer treatment candidate because their argument put the subject of the trial results “‘in play,’” an investor appellant argues in an April 8 reply brief filed in the Fourth Circuit U.S. Court of Appeals....