LOS ANGELES–(BUSINESS WIRE)–$NUVB #NUVB—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Nuvation Bio Inc. (“Nuvation” or “the Company”) (NYSE: NUVB) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Nuvation issued a press release on June 27, 2022, “announc[ing] the Food and Drug Administration (FDA) has placed a partial clinical hold on the Company’s Phase 1 dose escalation study of NUV-422 in solid tumors, including high grade glioma, HR+/HER2- advanced breast cancer and metastatic castration resistant prostate cancer.” According to the Company, “Following the emergence of uveitis, a form of inflammation in the eye, in certain patients receiving NUV-422, the Company proactively paused enrollment of new patients in order to further assess these adverse events with investigators and uveitis experts, and also reached out to the FDA for guidance around an appropriate path forward. While the partial hold is in place, no new patients will be enrolled in the NUV-422 program, although current study participants may continue to be treated in the Phase 1 study.” Based on this news, shares of Nuvation fell by more than 13% on the same day.
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