LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of GTx, Inc. (“GTx” of the “Company”) (NASDAQ:GTXI) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by GTx concerning the Company’s operations and financial prospects.
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GTx is a biopharmaceutical company engaged in the discovery, development and commercialization of small molecules for the treatment of cancer, cancer supportive care and other serious medical conditions. Its lead product candidate, enobosarm, is a Phase III investigational drug for the prevention and treatment of muscle wasting in patients with advanced non-small cell lung cancer. The investigation is related to the Company’s August 19, 2013, announcement that enobosarm fell short of key goals agreed upon with the U.S. Food and Drug Administration in two Phase III clinical trials in terms of increasing lean body mass and improving physical function. Following this news, the price of GTx shares dropped more than 60% from the previous day’s closing price, to close at $1.43 per share, on volume of more than 17 million shares traded.
If you purchased GTx shares, if you have information or would like to learn more about these claims or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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