(MENAFN- GlobeNewsWire - Nasdaq) NEW YORK, June 07, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Zai Lab Limited (“Zai Lab” or the“Company”) (NASDAQ: ZLAB). Such investors are advised to contact Robert S. Willoughby at or 888-476-6529, ext. 7980.
The investigation concerns whether Zai Lab and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 6, 2023, Zai Lab reported phase 3 trials for an oncology therapy it is developing with the oncology company NovoCure. Zai Lab said that its tumor treating fields (TTFields) therapy, which uses skin patches to deliver electric fields to areas of the body, when used with standard therapies, met its primary endpoint of three-month improvement in median overall survival (OS) in metastatic non-small cell lung cancer (NSCLC) patients. Further, according to Zai Lab, patients with the TTFields therapy had a median OS of 13.2 months compared to 9.9 months with patients who just had standard therapies. However, 70% of the study participants didn't use an initial checkpoint inhibitor, which is seen as the leading way to treat NSCLC, thereby allowing for the possibility that the study was skewed by comparing TTFields to a lesser therapy.
On this news, Zai Lab's stock fell $4.88 per share, or 14.55%, to close at $28.66 per share on June 7, 2023, damaging investors.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See .
CONTACT:
Robert S. Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
Tags class action
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