January 29, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) shares over potential securities laws violations by Oncomed Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) concerning whether a series of statements by Oncomed Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Oncomed Pharmaceuticals Inc reported that its annual Total Revenue rose from $24.68 million in 2012 to $39.56 million in 2014 while its Net Loss increased from $22.33 million in 2012 to $50.01 million in 2014.

Shares of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) reached as high as $37.38 per share in early 2014.

On January 25, 2016 Oncomed Pharmaceuticals Inc (NASDAQ:OMED) announced an update on the Phase 2 ALPINE clinical trial following a pre-planned January 23 interim efficacy assessment of the clinical trial by an independent data safety monitoring board (DSMB). The DSMB assessed data from 172 patients treated as of a January 6, 2016 data cutoff date.

Shares of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) declined to as low as $9.15 per share.

On January 29, 2016, NASDAQ:OMED shares closed at $9.25 per share.