FDA Questions ANTM Study; Investors Sue

After Actinium revealed the FDA was years away from approving Actinium's key drug, investors raced for the exits, sending Actinium's stock price crashing by 60% in one day. Now investors are taking legal action to recover their losses.

Actinium is a pharma company investigating Iomab-B, a cancer-fighting drug. In 2016, Actinium launched Sierra, a Phase 3 trial to study Iomab-B's effectiveness. Sierra had an unusual study design, but Actinium claimed the FDA not only approved the design but helped come up with it.

In 2022, Actinium claimed Iomab-B was a success and set for FDA approval.

So investors were stunned when, in August 2024, the FDA said not so fast. The government said Actinium needed to do far more research on Iomab-B and had to use more conventional research methods this time around.

Furious investors dumped their shares and Actinium's share price crashed. Now, more investors are joining the lawsuit.