Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Heron Therapeutics, Inc.

Business Wire 14-Jun-2019 4:36 PM

Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming August 5, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Heron Therapeutics, Inc. ("Heron Therapeutics" or the "Company") (NASDAQ: HRTX) investors who purchased securities between October 31, 2018 and April 30, 2019, inclusive (the "Class Period").

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

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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If you purchased or otherwise acquired Heron Therapeutics securities during the Class Period you may move the Court no later than August 5, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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