TESARO LEAD PLAINTIFF ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Tesaro Incorporated To Contact The Firm

Specifically, on March 14, 2016, Tesaro issued a press release announcing the submission of a New Drug Application for an intravenous formulation of Varubi. Then, on October 25, 2017, Tesaro announced that the FDA had approved the new Varubi formulation (Varubi® IV). The Company subsequently announced in its third quarterly statement of 2017, filed on Form 10-Q on November 7, 2017, that it expected to "commence sales of VARUBI IV in the U.S. in the fourth quarter of 2017." Then, after market close on January 12, 2018, the Company announced that, in collaboration with the FDA, it would update the labeling on its intravenous formulation of Varubi after receiving reports of anaphylaxis, anaphylactic shock and other serious hypersensitivity reactions in patients taking the drug.

On this news, Tesaro's share price fell from $69.59 per share on January 12, 2018 to a closing price of $65.52 on January 16, 2018—a $4.07 or a 5.85% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding Tesaro's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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SOURCE Faruqi & Faruqi, LLP