Aduro BioTech Inc (NASDAQ:ADRO) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
Aduro BioTech
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May 19, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Aduro BioTech Inc (NASDAQ:ADRO) shares over potential securities laws violations by Aduro BioTech Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Aduro BioTech Inc (NASDAQ:ADRO) concerning whether a series of statements by Aduro BioTech Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Aduro BioTech Inc reported that its annual Total Revenue rose from $13.39 million in 2014 to $72.98 million in 2015 while its Net Loss increased from $17.01 million in 2014 to $39.21 million in 2015.

On May 16, 2016, Aduro BioTech Inc (NASDAQ:ADRO) announced that the Phase 2b ECLIPSE trial did not meet the primary endpoint of an improvement in overall survival for patients with pancreatic cancer who had failed at least two prior therapies in the metastatic setting. Shares of Aduro BioTech Inc (NASDAQ:ADRO) declined to as low as $7.26 per share on May 16, 2016.