NEW YORK, Jan. 10, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of investors who purchased Isis Pharmaceuticals, Inc. ("Isis" or the "Company") (Nasdaq:ISIS) stock between March 29, 2012 and October 15, 2012.
For more information, click here: http://zlk.9nl.com/isis-pharmaceuticals-isis/.
The complaint alleges that throughout the Class Period Isis issued materially false and misleading statements regarding the safety and efficacy of its drug Kynamro, which was currently under development.
On October 16, 2012, the FDA issued a report noting that abnormal growths developed in 3.1% of patients treated with Kynamro, as compared to only 0.9% of patients who took a placebo, concluding that the development of these growths would need to be studied further. In addition, it was reported that three patients treated with Kynamro died during clinical testing. Upon this news, shares of ISIS declined $2.88 per share.
If you suffered a loss in ISIS you have until February 26, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/isis-pharmaceuticals-isis/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP