Bioenvision (NASDAQ:BIVN)
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From Jun 2019 to Jun 2024
Bioenvision, Inc. (Nasdaq:BIVN) today announced that it has been named
as a defendant in a securities class action lawsuit filed in the United
States District Court for the Southern District of New York purportedly
on behalf of sellers of the Company’s common
stock during the period from May 1, 2007 through May 28, 2007.
Bioenvision’s Chairman and CEO, Christopher B.
Wood, and CFO, James S. Scibetta, were also named as defendants. The
litigation alleges, among other things, that the Company made material
misstatements and omissions in connection with the agreement and plan of
merger entered into with Genzyme Corporation on May 29, 2007.
The Company believes all the allegations in the complaint are without
merit and intends to vigorously defend them.
About Bioenvision
Bioenvision’s primary focus is the
acquisition, development and marketing of compounds and technologies for
the treatment of cancer. Bioenvision has a broad pipeline of products
for the treatment of cancer, including: Evoltra®,
Modrenal® (for which Bioenvision has obtained
regulatory approval for marketing in the United Kingdom for the
treatment of post-menopausal breast cancer following relapse to initial
hormone therapy), and other products. Bioenvision is also developing
Suvus® which is currently in clinical
development for refractory chronic hepatitis C infection. For more
information on Bioenvision please visit our website at www.bioenvision.com.
Certain statements contained in this press release are “forward-looking”
statements, including express or implied statements regarding the future
approval by Bioenvision’s stockholders of
the pending agreement and plan of merger with Genzyme. Because these
statements are subject to risks and uncertainties, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Specifically, factors that could cause
actual results to differ materially from those expressed or implied by
such forward-looking statements include, but are not limited to: risks
associated with whether the merger of Wichita Bio Corporation with and
into Bioenvision will be approved by the stockholders of Bioenvision;
risks associated with the uncertainty as to whether such merger will in
fact occur; risks associated with disruptions from the proposed merger
transaction which may harm relationships with customers, employees,
suppliers and partners; risks associated with the outcome of litigation
and regulatory proceedings to which we are currently a party and may
become a party in the future; risks associated with preclinical and
clinical developments in the biopharmaceutical industry in general and
in Bioenvision’s compounds under development
in particular; the potential failure of Bioenvision’s
compounds under development to prove safe and effective for treatment of
disease; uncertainties inherent in the early stage of Bioenvision’s
compounds under development; failure to successfully implement or
complete clinical trials; failure to receive marketing clearance from
regulatory agencies for our compounds under development; acquisitions,
divestitures, mergers, licenses or strategic initiatives that change
Bioenvision’s business, structure or
projections; the development of competing products; uncertainties
related to Bioenvision’s dependence on third
parties and partners; and those risks described in Bioenvision’s
filings with the SEC. Bioenvision assumes no obligation to update any
forward-looking statements as a result of new information or future
events or developments, except as required by law and the statements
contained in this press release are current as of the date of this
release only.