INVESTOR ALERT: Kirby McInerney LLP Announces a Securities Class Action on Behalf of Edge Therapeutics, Inc. Investors
24 Avril 2018 - 9:27PM
Business Wire
A class action lawsuit has been filed in the United States
District Court for the District of New Jersey against Edge
Therapeutics, Inc. (NASDAQ:EDGE) (“Edge” or the “Company”) and
certain of its officers, on behalf of investors who acquired Edge
securities during the period from December 29, 2017 through March
27, 2018 (the “Class Period”). The lawsuit seeks to recover damages
under the federal securities laws. Pursuant to applicable law,
investors have until June 22, 2018 to apply to the Court to be
appointed as lead plaintiff in the lawsuit.
According to the complaint, defendants failed to disclose that
Edge’s lead product candidate would likely fail futility analysis.
On March 28, 2018, Edge revealed that “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.” Based on the recommendation of an independent Data
Monitoring Committee, the Company discontinued the Phase 3 NEWTON 2
study.
On this news, shares of Edge declined from $15.59 to close at
$1.31.
If you acquired Edge securities, have information, or would like
to learn more about these claims, please contact Thomas W. Elrod of
Kirby McInerney LLP at 212-371-6600, by email at telrod@kmllp.com,
or by filling out this contact form, to discuss your rights or
interests with respect to these matters without any cost to
you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, whistleblower and consumer
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: http://www.kmllp.com
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20180424006477/en/
Kirby McInerney LLPThomas W. Elrod, Esq.,
212-371-6600http://www.kmllp.comtelrod@kmllp.com
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