December 28, 2017 / 12:25 AM / in 6 months

Aveo settles investor lawsuit over cancer drug for $15 mln, warrants

Aveo Pharmaceuticals Inc will settle claims it misled shareholders about the Food and Drug Administration’s concerns regarding a kidney cancer drug it was developing by paying $15 million out of insurance and issuing warrants for affected investors to buy 2 million shares.

The biotech company filed papers in federal court in Boston on Wednesday saying it had reached a settlement, the terms of which it disclosed in a filing with the U.S. Securities and Exchange Commission a day earlier.

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