According to the law firm press release, Antares Pharma, Inc. (" Antares" or the Company) develops pharmaceutical delivery systems, including needle-free and mini-needle injector systems and transdermal gel technologies. The Company distributes its needle-free injector systems in various countries. Antares also conducts research and development with transdermal gel products and has several products in clinical evaluation with partners.

Antares’s product Xyosted (originally known as QuickShot Testosterone or QST) has been among the Company’s lead product candidates at all relevant times. Antares announced its submission of a New Drug Application (“NDA”) for Xyosted to the U.S. Food and Drug Administration (“FDA”) on December 21, 2016.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Antares had provided insufficient data to the FDA in connection with its NDA for Xyosted; (ii) accordingly, Antares had overstated the approval prospects for Xyosted; and (iii) as a result of the foregoing, Antares’ public statements were materially false and misleading at all relevant times.

On July 27, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on October 9. On November 26, Defendants filed a Motion to Dismiss the amended Complaint. The Court issued an Order granting Defendants' Motion to Dismiss on June 30, 2019. Plaintiffs were given leave to amend the Complaint.

Lead Plaintiff filed a consolidated second amended Complaint on July 29, 2019. Defendants filed a Motion to Dismiss the consolidated second amended Complaint on September 12. On April 28, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.

On May 29, 2020, Lead Plaintiff filed a consolidated third amended Complaint. Defendants filed a Motion to Dismiss the consolidated third amended Complaint on July 10. On February 26, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.

Lead Plaintiff filed a notice appealing the Court's Dismissal Order on March 29, 2021. On January 25, 2022, the Court of Appeals affirmed the District Court's Dismissal Order.