Eagle Pharmaceuticals Inc (NASDAQ:EGRX) Investor Investigation Concerning Potential Violations Of Securities Laws Announced

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Company Name(s): 
Eagle Pharmaceuticals
Affected Securities: 
NASDAQ: EGRX

May 19, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Eagle Pharmaceuticals Inc (NASDAQ:EGRX) shares over potential securities laws violations by Eagle Pharmaceuticals Inc (NASDAQ:EGRX 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 Eagle Pharmaceuticals Inc (NASDAQ:EGRX) concerning whether a series of statements by Eagle Pharmaceuticals Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Shares of Eagle Pharmaceuticals Inc (NASDAQ:EGRX) reached as high as $97.17 per share in December 2015.

On February 25, 2016, Eagle Pharmaceuticals Inc reported its fourth quarter and full year 2015 results. Eagle Pharmaceuticals Inc reported that its Total Revenue rose from $19.10 million for the 12 months period that ended on September 30, 2014 to $66.23 million for the 12 months period that ended on December 31, 2015 and that its Net Loss of $17.98 million for the 12 months period that ended on September 30, 2014 turned into a Net Income of $2.57 million for the 12 months period that ended on December 31, 2015.
On February 25, 2016, Eagle Pharmaceuticals' CEO stated, regarding the pending New Drug Application ("NDA") for the Company's anticoagulant drug KANGIO™, "We have been interacting with FDA and we are preparing for launch, everything seems to be on track for a March 19 approval, and we anticipate shipping in late Q1 or early Q2."

Then, on March 18, 2016, Eagle Pharmaceuticals announced that it had received a Complete Response Letter from the FDA stating that the FDA "cannot approve the application in its present form and requested additional information" regarding the substances used in KANGIO™.

Shares of Eagle Pharmaceuticals Inc (NASDAQ:EGRX) declined to as low as $35.10 per share on March 28, 2016.

On May 19, 2016, NASDAQ:EGRX shares closed at $44.41 per share.