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Investigation announced for Investors in shares of AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG)

02-03-2020 04:13 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

An investigation for investors in AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) shares over potential securities laws violations.

An investigation for investors in AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) shares over potential securities laws violations.

An investigation was announced concerning potential securities laws violations by AMAG Pharmaceuticals, Inc. in connection with certain financial statements.

Investors who purchased shares of AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on whether a series of statements by AMAG Pharmaceuticals, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Waltham MA based AMAG Pharmaceuticals, Inc., a biopharmaceutical company, develops, manufactures, and commercializes therapeutics for maternal and women's health, anemia management, and cancer supportive care in the United States. AMAG Pharmaceuticals, Inc. reported that its annual Total Revenue declined from $609.94 million in 2017 to $474 million in 2018 and that its Net Loss declined from $199.22 million in 2017 to $65.76 million in 2018.

On October 29, 2019, AMAG Pharmaceuticals, Inc. announced that the Food and Drug Administration's ("FDA") Bone, Reproductive and Urologic Drugs Advisory Committee had voted 16-0 that the Company's confirmatory study, Trial 003, failed to demonstrate the effectiveness of AMAG's Makena product in reducing the risk of preterm births in women with histories of singleton spontaneous preterm birth. The FDA committee also voted 13-3 that the clinical data (Trials 002 and 003) in the Company's application failed to demonstrate substantial evidence of effectiveness.

Shares of AMAG Pharmaceuticals, Inc.(NASDAQ: AMAG) declined from $$13.33 per share on October 29, 2019 to as low as $8.92 per share on November 6, 2019.

Then, on January 9, 2020, AMAG Pharmaceuticals, Inc. disclosed plans to divest its Intrarosa and Vyleesi products in order to lower operating expenses. Concurrently, AMAG announced that William Heiden would step down as AMAG's President and Chief Executive Officer following the appointment of a successor by the Company's Board of Directors.

Shares of AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) declined from $$12.79 per share on December 26, 2019 to as low as $8.99 per share on January 30, 2020.

Those who purchased shares of AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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