Sad, my man:
The Complaint charges that defendants violated the federal securities laws. It is alleged in the Complaint that defendants misled investors regarding the status of Hemispherx's New Drug Application ("NDA") for its drug Ampligen with the U.S. Food and Drug Administration ("FDA"). Specifically, defendants failed to disclose that the FDA had requested several reports from the Company before the NDA could even be considered, thus delaying the possible approval of Ampligen by several months at a minimum. Then, on November 2, 2009, when Hemispherx belatedly disclosed this information, the price of the Company's securities fell 20% to close at $1.13 on the next trading day, November 3, 2009. LINK
The Complaint charges that defendants violated the federal securities laws. It is alleged in the Complaint that defendants misled investors regarding the status of Hemispherx's New Drug Application ("NDA") for its drug Ampligen with the U.S. Food and Drug Administration ("FDA"). Specifically, defendants failed to disclose that the FDA had requested several reports from the Company before the NDA could even be considered, thus delaying the possible approval of Ampligen by several months at a minimum. Then, on November 2, 2009, when Hemispherx belatedly disclosed this information, the price of the Company's securities fell 20% to close at $1.13 on the next trading day, November 3, 2009. LINK
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