SAN DIEGO, March 28, 2025 /PRNewswire/ — Robbins LLP informs stockholders that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Actinium Pharmaceuticals, Inc. (NYSE: ATNM) securities between October 31, 2022 and August 2, 2024. Actinium is a late-stage biopharmaceutical company that develops targeted radiotherapies, such as Iomab-B, to treat people who have failed existing oncology therapies.
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The Allegations: Robbins LLP is Investigating Allegations that Actinium Pharmaceuticals, Inc. (ATNM) Misled Investors Regarding FDA Approval of Iomab-B
According to the complaint, during the class period, defendants misled investors to believe there was a very high likelihood that the FDA would review and approve the Company’s Biologics License Application (“BLA”) for Iomab-B. The complaint alleges that defendants (i) repeatedly touted the Sierra Trial’s positive DCR data while downplaying the study’s failure to generate statistically significant or clinically meaningful Overall Survival data; and (ii) misled investors about the importance of the Sierra Trial’s poor Overall Survival data by claiming the FDA had blessed the design of the trial such that the lack of statistically significant or clinically meaningful OS data would not be a barrier to approval of the BLA.
On August 5, 2024, Actinium announced “the FDA has now determined that the analyses from the Sierra trial do not adequately support a BLA filing for Iomab-B and requires an additional clinical study.” On this new, the price of Actinium’s common stock fell $3.69, or approximately to 60%, to close at $2.48 on August 5, 2024.
What Now: You may be eligible to participate in the class action against Actinium Pharmaceuticals, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 26, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP