Kirby McInerney LLP is investigating potential claims against the Board of Directors of Hyperion Therapeutics, Inc. (“Hyperion” or the “Company”) (NASDAQ:HPTX) concerning the termination of the development of its Type 1 diabetes drug due to the manipulation of trial data.
On September 8, 2014, the Company announced that it is terminating development of DiaPep277 for newly diagnosed Type 1 diabetes. In a press release, the Company noted that it “has uncovered evidence that certain employees of Andromeda Biotech, Ltd., which Hyperion acquired in June 2014, engaged in serious misconduct, including collusion with a third-party biostatistics firm in Israel to improperly receive un-blinded DIA-AID 1 trial data and to use such data in order to manipulate the analyses to obtain a favorable result. Additional evidence indicates that the biostatistics firm and certain Andromeda employees continued the improper practice of sharing and examining un-blinded data from the ongoing DIA-AID 2 trial.”
On this news, shares of Hyperion fell $2.33 per share to $25.31, or more than 8.43%, in intraday trading on September 8, 2014.
If you are a Hyperion stockholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at [email protected], or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at [email protected], or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.