EIGR:NASDAQ Class Action Lawsuit (EIGR) was filed on November 8, 2022 on behalf of the shareholders.
On September 6, 2022, Eiger issued a press release “providing an update on the status of its planned request for [EUA] of peginterferon lambda for the treatment of patients with mild-to-moderate COVID-19 based on its most recent communications with the [FDA].”
Specifically, the Company announced that “following a cooperative and extensive preEUA information exchange with the FDA regarding the Phase 3 TOGETHER study of peginterferon lambda for COVID-19, the agency has indicated that it is not yet able to determine whether the criteria for the submission of an application and issuance of an EUA are likely to be met.”
On this news, Eiger’s stock price fell $2.51 per share, or 29.36%, to close at $6.04 per share on September 6, 2022.
Then, on October 5, 2022, Eiger announced that it would not seek an EUA request for peginterferon lambda after the FDA had “denied the request for a pre-EUA meeting.” Specifically, the Company disclosed that, “citing its concerns about the conduct of the TOGETHER study, the FDA concluded that any authorization request based on the data presented is unlikely to meet the statutory criteria for issuance of an EUA in the current context of the pandemic.”
On this news, Eiger’s stock price fell $0.37 per share, or 5.01%, to close at $7.02 per share on October 5, 2022.