LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP reminds investors of Endocyte, Inc. (“Endocyte” or the “Company”) (NASDAQ:ECYT) that all purchasers of Endocyte common stock between March 21, 2014 and May 2, 2014, inclusive (the “Class Period”), have until August 25, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
Endocyte is a biopharmaceutical company engaged in the development of targeted therapies for the treatment of cancer and inflammatory diseases in the United States. The Complaint alleges that the defendants issued misleading statements during the Class Period regarding the efficacy of Endocyte's experimental drug, VYNFINIT®, and misrepresented or failed to disclose material information concerning the Company's business and financial prospects.
On May 2, 2014, Endocyte disclosed that VYNFINIT was found ineffective in the treatment of platinum-resistant ovarian cancer, based on certain testing methods known as response evaluation criteria in solid tumors, or “RECIST.” Following this news, on May 2, 2014, the price of Endocyte stock dropped approximately 61% from the previous day’s closing price, to close at $6.62 per share on May 2, 2014, on unusually heavy trading volume. The Company subsequently announced that it would withdraw its application to market VYNFINIT in Europe.
If you are a member of the Class described above, you may move the Court no later than August 25, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, by e-mail to email@example.com, 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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