Law Offices of Howard G. Smith announces an investigation on behalf of Eiger BioPharmaceuticals, Inc. (“Eiger” or the “Company”) (NASDAQ: EIGR) investors concerning the Company’s possible violations of federal securities laws.
In March 2022, Eiger announced that it would submit an Emergency Use Authorization (“EUA”) request to the U.S. Food and Drug Administration (“FDA”) for its mild-to-moderate COVID-10 drug, peginterferon lambda, based on the results of the independent, multi-center TOGETHER study.
On September 6, 2022, Eiger provided an update on the status of its planned request for EUA, disclosing that “[f]ollowing a cooperative and extensive pre-EUA information exchange with [the] FDA […] the agency has indicated that it is not yet able to determine whether the criteria for the submission of an application and issuance of an EUA are likely to be met.”
On this news, Eiger’s stock fell $2.51, or 29.4%, to close at $6.04 per share on September 6, 2022, thereby injuring investors.
Then, on October 5, 2022, Eiger announced that it would no longer be seeking an EUA request after the FDA had “denied the request for a pre-EUA meeting.” The Company disclosed that the FDA “concluded that any authorization request based on the data [presented] is unlikely to meet the statutory criteria for issuance of an EUA in the current context of the pandemic.”
On this news, Eiger’s stock fell $0.37, or 5%, to close to $7.02 per share on October 5, 2022.
If you purchased Eiger securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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