Faruqi & Faruqi, LLP Launches Investigation into Actinium Pharmaceuticals for Investor Claims

Ongoing Investigation into Actinium Pharmaceuticals

Faruqi & Faruqi, LLP, a premier national securities law firm based in the United States, has initiated an investigation regarding possible claims from investors in Actinium Pharmaceuticals, Inc., traded on the NYSE under the ticker symbol ATNM. This investigation arises amidst concerns surrounding the company's communications to stakeholders and its failure to adequately disclose critical information impacting shareholders.

Overview of the Investigation

The law firm, known for its robust advocacy for investor rights, is specifically focusing on losses that exceed $75,000 suffered by investors between October 31, 2022, and August 2, 2024. With an approaching deadline of May 26, 2025, for investors wishing to assume the role of lead plaintiff in a federal securities class action against Actinium, Faruqi & Faruqi encourages affected investors to reach out to partner James (Josh) Wilson for personalized guidance.

The primary allegations presented to date suggest that Actinium and its executives may have breached federal securities laws by issuing false and misleading statements. These misrepresentations reportedly include claims around the acceptance and approval of the company’s Iomab-B Biologics License Application (BLA). Specifically, documents indicate that the company’s data derived from the Sierra Trial was likely insufficient to meet the criteria defined by the FDA for approval.

Furthermore, there were claims that additional analyses provided to the FDA, which suggested a positive shift in overall survival trends, were misleading and unlikely to hold weight against the FDA's rigorous standards for drug approval. Consequently, there's growing concern that the FDA might reject the BLA application outright or request additional clinical trials before reconsidering.

Impact on Investors

This situation unraveled with a significant drop in Actinium's stock price, particularly illustrated on August 5, 2024. In a shocking press release, Actinium disclosed that it would need further clinical trials to support its BLA filing, resulting in a dramatic decline of nearly 60% in its stock price—falling from approximately $6.17 to $2.48 per share. This plummet occurred on an unusually high trading volume, signifying investor panic and disappointment, impacting those who relied on the company's previous positive forecasts and proclamations.

In light of these developments, it becomes evident that the statements made by Actinium regarding its operational trajectory and financial health were significantly misleading or lacked a solid foundation, further compounding investor losses. The firm is urging individuals with additional information regarding Actinium to come forward, particularly whistleblowers, former employees, or shareholders.

Legal Considerations

The lead plaintiff's role is critical as this individual represents the collective interests of a class of investors. The appointed lead plaintiff will oversee the litigation process and drive the case forward on behalf of the affected shareholders. However, it's essential to note that opting not to take on the lead plaintiff role does not impede any recovery from the potential lawsuit—investors retain the right to their share irrespective of their participation level.

For those interested in further exploring their rights in the ongoing situation surrounding Actinium Pharmaceuticals, Faruqi & Faruqi provides a wealth of resources. Investors can contact the firm directly through its website or by calling 877-247-4292 for more detailed advice.

Conclusion

As this investigation progresses, it underscores the urgency for investors affected by the decline in Actinium's stock value to evaluate their options. With relevant deadlines approaching, taking proactive measures now could be pivotal in securing restitution for those who have faced significant losses. Faruqi & Faruqi remains dedicated to advocating for investor rights and providing comprehensive support to those impacted by corporate misconduct.