According to the Complaint, AVEO Pharmaceuticals, Inc. is a biopharmaceutical company incorporated in 2001. The Company is based in Cambridge, Massachusetts and develops and commercializes a portfolio of targeted medicines for oncology and other areas of unmet medical need. AVEO was formerly known as “GenPath Pharmaceuticals, Inc.” and changed its name to “AVEO Pharmaceuticals, Inc.” in March 2005.

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) the TIVO-3 trial was inadequately designed to address the OS concerns regarding AVEO’s lead candidate drug, tivozanib, from the TIVO-1 trial presented in the June 2013; (ii) tivozanib had insufficient survival data to meet FDA approval following its initial 2013 rejection; (iii) this lack of sufficient survival data would put tivozanib at greater risk of delayed FDA approval; and (iv) as a result, AVEO’s public statements were materially false and misleading at all relevant times.

On April 12, 2019, the Court issued an Order transferring this action to the District of Massachusetts. On May 6, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 24. Defendants filed a Motion to Dismiss the amended Complaint on September 27. On July 24, 2020, the Court issued an Order granting Defendants' Motion to Dismiss.