Robbins LLP Advises ATNM Stockholders to Join Class Action Against Actinium Pharmaceuticals Inc.

Introduction

In a significant legal development for investors, Robbins LLP has reached out to shareholders of Actinium Pharmaceuticals, Inc. (NYSE: ATNM), urging them to consider participating in a class action lawsuit. This action is designed for individuals and entities who acquired ATNM securities between October 31, 2022, and August 2, 2024. The firm asserts that Actinium's misleading communications about the FDA approval process for its leading drug candidate, Iomab-B, may have negatively impacted shareholders.

Background on Actinium Pharmaceuticals Inc.

Actinium Pharmaceuticals, a biopharmaceutical company at the forefront of targeted radiotherapies, focuses on developing therapies for patients who have not responded to conventional cancer treatments. Their flagship product, Iomab-B, is designed to treat patients with relapsed or refractory leukemia. However, recent developments have put the company's claims and practices under scrutiny, leading to the current legal action.

Allegations Against Actinium Pharmaceuticals

The core of Robbins LLP's investigation revolves around accusations that Actinium misrepresented the likelihood of FDA approval for Iomab-B. According to the class action complaint, during the specified class period, the company's executives expressed confidence in the FDA's willingness to approve their Biologics License Application (BLA) for Iomab-B. However, they allegedly downplayed crucial data from the Sierra Trial — a study intended to support their clinical claims — which showed a lack of statistically significant overall survival rates for the drug.

Key Points of Concern Include:
1. Misleading Promotional Statements: Actinium executives touted positive data from the Sierra Trial’s disease control rate (DCR) while obscuring critical failures in overall survival data.
2. False Representation of FDA Interactions: Executives claimed that the FDA approved the design of the Sierra Trial, leading investors to believe that poor survival outcomes would not hinder the upcoming application for drug approval.

The situation escalated when the FDA issued a statement on August 5, 2024, declaring that the provided data was insufficient to support a BLA filing and cited the need for further clinical studies, which directly prompted a steep decline in Actinium’s stock price.

Impact on Shareholders

On the announcement day, ATNM's stock tumbled by $3.69, reflecting a substantial 60% decrease and closing at approximately $2.48. This sharp decline has raised significant concerns amongst investors who felt misled about the investment's stability due to the favorable impressions offered by the company’s leadership.

Robbins LLP is rallying affected shareholders to take action, emphasizing that individuals interested in serving as lead plaintiffs for the class must submit their filings by May 26, 2025. A lead plaintiff represents the interests of all class members during the litigation process. Importantly, individuals can opt to remain uninvolved and still retain the right to recovery if the class action is successful.

About Robbins LLP

Founded in 2002, Robbins LLP is a renowned law firm specializing in shareholder rights litigation. With a commitment to recovering losses and fostering corporate accountability, Robbins LLP offers contingency-based representation, ensuring that shareholders incur no upfront legal fees unless recovery is achieved. The firm promotes transparency and encourages shareholders to stay informed about their rights and potential actions they can take.

Conclusion

For shareholders of Actinium Pharmaceuticals, the window to reclaim losses may be closing. By participating in the class action led by Robbins LLP, investors may hold the company accountable for any misleading statements that may jeopardize their investments. Those seeking additional information or wishing to connect with the firm can do so by contacting attorney Aaron Dumas, Jr. or reaching out through their established communication channels.

This legal development highlights the importance of holding pharmaceutical companies accountable for their claims and ensuring that investors are not left in the dark. As this case progresses, shareholders will be keenly observing any updates on the outcome of the class action and implications for Actinium's future as a publicly-traded company.