2nd Circ. Revives NewLink Investor Suit Over Cancer Drug
Law360 (July 13, 2020, 9:05 PM EDT) -- The Second Circuit on Monday revived a proposed class action that accuses NewLink Genetics Corp. executives of making misrepresentations while touting the biopharma company's pancreatic cancer treatment.
A three-judge panel said that while NewLink leadership's statements about the efficacy of algenpantucel-L, a cancer treatment also known as HyperAcute Pancreas, were puffery rather than material misstatements, investors had plausibly alleged material misrepresentations in the company's statements about scientific literature regarding pancreatic cancer and about the design of NewLink's clinical trial.
The reversal of a New York federal court's previous dismissal of the suit heavily cites the U.S. Supreme Court's 2015 Omnicare decision,...
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