We are investigating Mallinckrodt plc (MNK) (“Mallinckrodt” or the “Company”) for potential violations of the federal securities laws.
On July 16, 2019, post-market, Mallinckrodt announced that the Company “is permanently discontinuing its Phase 2B study designed to assess the efficacy and safety of Acthar® Gel (repository corticotropin injection) as an investigational treatment for amyotrophic lateral sclerosis (ALS).” Mallinckrodt stated that it decided “to halt the trial after careful consideration of a recent recommendation by the study’s independent Data and Safety Monitoring Board (DSMB)” which “was based on the specific concern for pneumonia, which occurred at a higher rate in the ALS patients receiving Acthar Gel compared to those on placebo” and that “the board also mentioned other adverse events specific to this patient population.” On this news, Mallinckrodt’s stock price fell sharply during intraday trading on July 17, 2019.