San Diego, CA -- (SBWire) -- 06/30/2015 --An investigation for investors in NASDAQ:AAVL shares over potential securities laws violations by Avalanche Biotechnologies and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Avalanche Biotechnologies Inc (NASDAQ:AAVL) concerning whether a series of statements by Avalanche Biotechnologies regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Avalanche Biotechnologies Inc is a clinical-stage biotechnology company that is focused on discovering and developing gene therapies for patients with sight-threatening ophthalmic diseases. Avalanche Biotechnologies Inc is developing its lead product candidate, AVA-101, which is indicated for the treatment for wet age-related macular degeneration
On June 15, 2015, Avalanche Biotechnologies Inc announced phase 2a results for AVA-101 in Wet Age-Related Macular Degeneration. Avalanche Biotechnologies Inc announced that its Phase 2a clinical study for AVA-101 met its 12-month primary endpoint, based on ophthalmic and systemic safety, demonstrating that AVA-101 was well tolerated with a favorable safety profile in subjects with wet age-related macular degeneration (wet AMD). However, in a conference call to discuss Phase 2 clinical trial results, Avalanche Biotechnologies Inc indicated that the study wasn't designed to show statistically significant differences between active and control groups. Shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) declined from $41.30 per share on June 15, 2015, to as low as $15.61 per share on June 26, 2015.
Those who purchased shares of Avalanche Biotechnologies Inc (NASDAQ:AAVL) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Shareholder Notice: Investigation of Avalanche Biotechnologies Inc (NASDAQ:AAVL) Announced
An investigation for investors in Avalanche Biotechnologies Inc (NASDAQ:AAVL) shares over potential securities laws violations by Avalanche Biotechnologies was announced and NASDAQ:AAVL stockholders should contact the Shareholders Foundation.