As I have been predicting, the SEC has decided that the events surrounding the FDA’s rejection of the Aveo renal cancer drug may bear some additional scrutiny. Hmmm….I wonder what could be the problem?
On July 3, 3013, AVEO Pharmaceuticals, Inc. (the “Company”) received a subpoena from the United States Securities and Exchange Commission (“SEC”) requesting documents and information concerning tivozanib, which the U.S. Food and Drug Administration (“FDA”) declined to approve for the treatment of patients with advanced renal cell carcinoma on June 10, 2013, including related communications with the FDA, investors and others. The Company intends to fully cooperate with the SEC regarding this non-public, fact-finding inquiry. The SEC has informed the Company that this inquiry should not be construed as an indication that any violations of law have occurred or that the SEC has any negative opinion of any person, entity or security. The Company does not intend to comment further on this matter unless and until this matter is closed or further action is taken by the SEC which, in the Company’s judgment, merits further comment or public disclosure.