Heron Therapeutics, Inc.
| Company Name | Heron Therapeutics, Inc. |
| Stock Symbol | HRTX |
| Class Period | October 31, 2018 to April 30, 2019 |
| Lead Plaintiff Motion Deadline | August 05, 2019 |
On May 1, 2019, the Company confirmed receipt of a Complete Response Letter from the FDA in which the FDA was unable to approve the Company’s New Drug Application for a new postoperative pain medication it had been developing, due to the need for additional information.
On this news, shares of Heron Therapeutics fell $3.93 per share, or over 18%, to close at $17.75 on May 1, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company had failed to include adequate Chemistry, Manufacturing, and Controls and non-clinical information in its New Drug Application (“NDA”) with the U.S. Food and Drug Administration (“FDA”) for HTX-011; (2) the foregoing increased the likelihood that the FDA would not approve the Company’s NDA for HTX-011; and (3) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
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