Proteon Therapeutics, Inc. (NASDAQ:PRTO) Files An 8-K Other Events
Item 8.01. Other Events.
On November 15, 2019, a lawsuit entitled Patrick Plumley v. Proteon Therapeutics, Inc., et al., Case No. 1:19-cv-02143-UNA, was filed in the United States District Court for the District of Delaware against Proteon, ArTara Therapeutics, Inc. (“ArTara”), REM 1 Acquisition, Inc. (“Merger Sub”) and the individual members of Proteon’s board of directors. The Plumley complaint is brought as a purported class action lawsuit. The lawsuit alleges that the preliminary registration statement filed by Proteon on November 7, 2019 with the Securities and Exchange Commission in connection with the proposed merger of Merger Sub with and into ArTara, with ArTara surviving as a wholly owned subsidiary of Proteon, omits material information with respect to the transactions contemplated by the Agreement and Plan of Merger and Reorganization, dated as of September 23, 2019, as amended, rendering it false and misleading in violation of Sections 14(a) (and Rule 14a-9 promulgated thereunder) and 20(a) of the Securities Exchange Act of 1934, as amended. The plaintiff seeks, among other things, injunctive relief, rescission, declaratory relief and unspecified monetary damages. Proteon intends to defend vigorously against all claims asserted.
About Proteon Therapeutics, Inc. (NASDAQ:PRTO)
Proteon Therapeutics, Inc. is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access. The Company has completed Phase II trial of vonapanitase in patients undergoing creation of an arteriovenous fistula (AVF). The Company initiated the first of two Phase III trials, PATENCY-1, for vonapanitase in radiocephalic AVFs. Its vonapanitase product candidate is a recombinant human elastase under development as a treatment to prevent AVF and arteriovenous graft (AVG) patency loss.