Biotech Firm To Pay $24M To Settle Clinical Trial Misstatement Claims

Mealey's (September 8, 2022, 10:54 AM EDT) -- SAN FRANCISCO — A biotechnology company will pay $24 million to settle shareholder class claims that it and one of its senior executives failed to disclose negative clinical trial results for the company’s myelofibrosis treatment drug candidate in violation of federal securities laws, according to a stipulation of settlement and motion for preliminary approval of the settlement filed Sept. 2 in California federal court....