NEW YORK, March 29, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP
(www.kaplanfox.com) is investigating claims on behalf of investors
of Edge Therapeutics, Inc. ("Edge Therapeutics" or the "Company")
(NASDAQ: EDGE). The Company's lead drug candidate, EG-1962,
has been under development to treat aneurysmal subarachnoid
hemorrhage, which is bleeding around the brain due to a ruptured
brain aneurysm.
On December 29, 2017 after the
market closed, Edge Therapeutics issued a press release announcing
that a Data Monitoring Committee ("DMC") had evaluated data from
the Day 90 follow-up visit of the first 150 patients randomized and
treated, and recommended that the Phase 3 NEWTON 2 Study of EG-1962
continue as planned based on the completion of a pre-planned
futility analysis.
On January 2, 2018, the first
trading day following the issuance of the December 29, 2017 press release, the price of
Edge Therapeutics' shares increased by $0.73 per share, or 7.8%, to close at
$10.10 per share.
On March 28, 2018, Edge
Therapeutics announced that a pre-specified interim analysis on
data from the Day 90 visit of the first 210 subjects randomized and
treated in the Phase 3 NEWTON 2 study of EG-1962 demonstrated a low
probability of achieving a statistically-significant difference
compared to the standard of care in the study's primary endpoint,
if the study is fully enrolled. As a result, the DMC
"recommended that the study be stopped based on its conclusion that
the study has a low probability of meeting its primary
endpoint." Based on the DMC recommendation, Edge Therapeutics
stated that it has decided to discontinue the Phase 3 NEWTON 2
study.
Following the March 28, 2018 news,
Edge Therapeutics' shares plummeted by $14.28 per share, or 91.6%, to close at
$1.31 per share on heavy trading
volume on March 28.
If you are an investor in Edge Therapeutics and would like to
discuss our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP