Alvotech (ALVO)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Alvotech (“Alvotech” or the “Company”) (NASDAQ: ALVO). Investors who purchased Alvotech securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Alvotech has violated federal securities laws.
Investigation Details:
On June 28, 2023, Alvotech issued a press release “announc[ing] . . . that the US Food and Drug Administration (FDA) has issued a complete response letter (CRL) for Alvotech’s second Biologics License Application (BLA) for AVT02, a high-concentration biosimilar candidate for Humira® (adalimumab).” The press release stated that “[t]he CRL noted that certain deficiencies, which were conveyed following the FDA’s reinspection of the company’s Reykjavik facility that concluded in March 2023, must be satisfactorily resolved before the application can be approved.” On this news, Alvotech’s stock price fell $0.45 per share, or 6.12%, to close at $6.90 per share on June 29, 2023.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Alvotech shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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