Law Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of Vical Incorporated (“Vical”
or the “Company”) (NASDAQ:VICL) concerning possible violations of
federal securities laws. The investigation focuses on certain statements
issued by the Company between February 8, 2012 and August 9, 2013.
Vical is a biopharmaceutical company that researches and develops
products based on patented DNA delivery technologies for the prevention
and treatment of serious and life-threatening illnesses, including
cancer. Vical’s lead product candidate for U.S. Food and Drug
Administration marketing approval is Allovectin, an immunotherapy
vaccine that targets cancer. The investigation is related to allegations
that the Company misrepresented Allovectin’s efficacy and likelihood of
success in the Phase 3 trial, and the overall current and future
business prospects for Allovectin and the Company. On August 12, 2013,
Vical announced the results of the Phase 3 Allovectin trial, which
showed that the vaccine failed to show an improvement over chemotherapy,
and since “Allovectin simply did not provide the expected benefits,” the
Allovectin program would be terminated.
If you purchased Vical shares between February 8, 2012 and August 9,
2013, if you have information or would like to learn more about these
claims, or if you have any questions concerning this announcement or
your rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at
(215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.
Copyright Business Wire 2013